Colombier Acquisition Corp. II (CLBR) and Metroplex Trading said Monday they have signed a business combination agreement to form a combined entity.

The combined company will be named GrabAGun Digital Holdings after the expected merger completion in summer 2025, with shares anticipated to trade on the New York Stock Exchange under the PEW symbol, the parties added.

Current equity holders of GrabAGun will receive $100 million in shares of the combined entity, valued at $10 apiece, and $50 million in cash, the companies said.

All funds delivered to the combined company in connection with the transaction will be used to finance strategic acquisitions in the 2A space, fund and accelerate future growth initiatives, seek consolidation opportunities, pay transaction expenses, and for other general corporate purposes, according to the companies.

Colombier's board has approved the transaction, which will also require approval from Colombier's shareholders and GrabAGun's equity holders.

Shares of Colombier were down 9.1% in recent trading.

Price: 10.72, Change: -1.07, Percent Change: -9.08