According to reports, the blank check company Colombier Acquisition Corp. III, backed by Omeed Malik, formally submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission last Friday. Headquartered in Palm Beach, Florida, the company plans to offer 26 million shares at a price of $10 each, targeting a total fundraising of $260 million. Colombier intends to list its units on the New York Stock Exchange under the ticker symbol "CLBR U." Roth Capital is serving as the underwriter for this issuance. In the context of SPACs, "units" refer to the smallest trading unit issued at IPO, typically comprising one share of common stock plus a fraction of a warrant, such as 1/2 or 1/3. Investors initially purchase the units and can later choose to split them for separate trading of the stock and warrants. Notably, Donald Trump Jr., the son of former U.S. President Donald Trump, serves as one of the company's directors and will become a partner at investment firm 1789 Capital starting in November 2024. 1789 Capital, co-founded by Omeed Malik and Chris Buskirk in 2022, promotes itself with the slogan "Funding the Next Chapter of American Exceptionalism," while Malik himself is a significant donor to Trump's presidential campaigns. Another board member, Chamath Palihapitiya, is a prominent Wall Street figure known as the "king of SPACs" for leading multiple high-profile SPAC transactions. As a special purpose acquisition company, SPACs raise funds through IPOs to merge with private companies, facilitating their public listing while bypassing the rigorous regulatory scrutiny of traditional IPOs. This IPO marks the latest move in the Trump family's recent investment landscape, which previously included the launch of a meme coin project in January this year and investments in the cryptocurrency company World Liberty Financial, partially owned by the former president. Additionally, GrabAGun, a firearms retailer supported by Donald Trump Jr., went public through a merger with Colombier Acquisition Corp. II, which Malik had previously backed.