GrabAGun Digital (PEW) shares were down 10% in premarket activity on Thursday after falling 24% in its trading debut on the New York Stock Exchange on Wednesday.
The company was result of a business combination of Colombier Acquisition Corp II (CLBR) and online firearm retailer Metroplex Trading, doing business as GrabAGun.com, which was completed on Tuesday. Colombier II and Metroplex Trading became subsidiaries of GrabAGun Digital, according to a statement.
GrabAGun Digital received more than $179 million of gross proceeds resulting from the transaction, which will be used for working capital and other corporate purposes, Colombier II said.