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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.