A “parallel” online marketplace aiming to provide a solution for Americans who want to shop with businesses aligning with conservative values is looking to go public.
Colombier Acquisition Corps, a publicly traded acquisition company, has announced plans to merge with online marketplace PublicSq, according to a June 30 press release.
“We have witnessed the pronounced need for the values of Main Street to be represented on Wall Street. PublicSq provides that solution for an emerging parallel economy full of patriotic consumers that are ready to spend their money with companies that respect and share their values,” said Michael Seifert, the Founder and Chief Executive Officer of PublicSq.
The U.S. Securities and Exchange Commission (SEC) has declared the registration statement of the merger on Form S-4 as effective. Colombier intends to hold a special meeting of stockholders on July 19.
After closing the deal, the combined company will be renamed “PSQ Holdings” and will go public, trading on the NYSE under PSQH and PSQH WS symbols. The business combination agreement is expected to close in Q3, 2023.
“We’re grateful for the community of over a million and counting freedom-loving Americans who are registered on our platform as members and the over 55,000 business vendors that have joined us,” Seifert said. PublicSq was launched as an app in October 2021.
According to Omeed Malik, the CEO and chairman of Colombier, PublicSq has “recognized and acted” on the disconnect between the priorities of large corporations and the needs of patriotic Americans.
“With the tremendous growth of its digital platform, it is clear that Michael and his team are just getting started. We are thrilled to be supporting them on this journey.”
In an interview with Fox News in April, Seifert said that PublicSq has “grown exponentially.” He called the patriotic, traditionally valued, constitution-loving American citizens “the largest unaddressed market in the world.