One of the fastest growing retailers of firearms in the United States of America is going public.
What’s happening:
- Online firearms retailer GrabAGun has announced they will go public through a SPAC transaction with Colombier Acquisition Corp (NYSE: CLBR)
By the numbers:
- GrabAGun is currently doing approximately $99.5M USD in annual revenue
- The new SPAC transaction will provide GrabAGun with $50M USD in fresh funding
Why it matters:
- Donald Trump Jr is advising GrabAGun and will become a significant equity owner in the company following the successful completion of the SPAC transaction
Going deeper:
- GrabAGun has quickly risen to prominence by focusing on building a prominent digital platform and ambitiously marketing to the next generation of potential gun owners in America
- Very few firearms businesses have gone public of late, which has been advantageous for less lethal weapons companies such as Byrna Technologies (NASDAQ: BYRN) who have seen record breaking revenues amidst a cultural push to reduce police violence and prevent accidental deaths
The intrigue:
- This is not the first foray Donald Trump Jr has recently made into the public markets, previously making waves by joining drone company Unusual Machines (NASDAQ: UMAC) as both an advisor and investor
