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Don Jr.-backed gun retailer GrabAGun debuts on NYSE
GrabAGun, an online firearms retailer, began trading on the New York Stock Exchange on July 16, 2025, after a SPAC merger that raised $179 million. Donald Trump Jr. sits on the board with about 300,000 shares. The stock closed down nearly 24% on the day he rang the opening bell.
What happened
GrabAGun sells firearms and accessories online from Texas, and in 2025 it agreed to go public by merging with Colombier Acquisition Corp. II. Colombier is a blank-check company led by Omeed Malik, a Republican megadonor who is also president of the investment firm 1789 Capital, where Donald Trump Jr. is a partner. Trump Jr. joined GrabAGun’s board, and the June 2025 prospectus projected he would hold about 300,000 shares, roughly 1% of the company.
Colombier’s shareholders approved the merger on July 15, 2025, and on July 16 the combined company began trading on the New York Stock Exchange under the ticker PEW. Trump Jr. rang the opening bell alongside Malik. The deal produced gross proceeds of more than $179 million, about $119 million after costs, which the company said would fund growth.
The shares spiked at the open, then sank, closing down nearly 24%. They fell as much as 20% more the following day. The $179 million went to the company, not to the Trump family, and is logged as venture inflow rather than family cash.
Who benefited
Donald Trump Jr. received a board seat and an equity stake of about 300,000 shares in a newly public company. GrabAGun raised $179 million with the president’s son as its public face. Colombier’s sponsor completed its deal.
Who wanted something
GrabAGun and the SPAC sponsor recruited the president’s son for his name and political brand ahead of the listing. They operate in a sector regulated by federal agencies, including the ATF, under his father’s administration. The sponsor’s leader, Omeed Malik, is also his partner at 1789 Capital.
Who lost out
Investors who bought at the open on July 16, 2025 saw the shares lose nearly a quarter of their value by the close of the first day. The stock fell as much as 20% more the following day.
Why it matters
The president’s son holds a stake in a company whose business depends on firearms rules set by his father’s administration, and the company paid for his name with equity. The $179 million went to the company, not the family; it is logged as venture inflow.
Sources CNBCSEC EDGAR (GrabAGun Form 8-K exhibit) (primary)AP (via The Nightly)