Colombier Acquisition Corp. III Prices $260 Million IPO

Colombier Acquisition Corp. III Launches IPO, Pricing Units at $10, Raising $260 Million

New York, NY – February 3, 2026 – Colombier Acquisition Corp. III, a special purpose acquisition company, announced today the pricing of its initial public offering (IPO) of 26,000,000 units at $10.00 per unit. The total offering size amounts to $260 million before accounting for any exercise of the underwriters’ over-allotment option.

Trading of the units, which will be listed on the New York Stock Exchange (NYSE) under the ticker symbol “CLBR U,” is expected to commence on February 4, 2026. Each unit is comprised of one Class A ordinary share and one-eighth of a redeemable warrant. Each whole warrant, when exercised, will entitle the holder to purchase one Class A ordinary share at an exercise price of $11.50. Following the separation of the constituent securities, the Class A ordinary shares and warrants are anticipated to be traded on the NYSE under the symbols “CLBR” and “CLBR WS,” respectively.

Colombier Acquisition Corp. III is structured as a blank check company, a financial vehicle designed to facilitate a merger, share exchange, asset acquisition, or similar business combination with one or more undisclosed businesses. While the company retains broad flexibility regarding the sector and industry of its target, its management team anticipates focusing on opportunities where their collective expertise can provide a distinct competitive advantage.

The leadership team driving Colombier III comprises seasoned capital markets professionals. Omeed Malik serves as Chief Executive Officer and Chairman, with Paul T. Abrahimzadeh as President, Joe Voboril as Chief Financial Officer, Andrew Nasser as Chief Investment Officer, and Jordan Cohen as Chief Operating Officer. The company’s board of directors includes prominent figures such as Donald J. Trump Jr. and Chris Buskirk of 1789 Capital, capital markets executive Candice Willoughby, Blake Masters (director at PSQ Holdings, Inc. and GrabAGun Digital Holdings Inc.), venture capitalist Chamath Palihapitiya, and television personality Laura Ingraham.

Roth Capital Partners is serving as the sole book-running manager and representative of the underwriters for this offering. In a standard move for such offerings, the underwriters have been granted a 45-day option to purchase up to an additional 3,900,000 units at the IPO price, less underwriting discounts and commissions, to cover potential over-allotments. This option provides a mechanism to manage initial trading liquidity and potential price stabilization.

The offering was made exclusively through a prospectus. The registration statement related to these securities was declared effective by the U.S. Securities and Exchange Commission (SEC) on January 30, 2026.

**Market Implications and Strategic Considerations:**

The successful pricing of this IPO signals continued investor appetite for SPACs, despite a maturing market landscape. For Colombier III, the $260 million raised provides substantial dry powder for its eventual business combination. The structure, with units comprising shares and fractional warrants, is typical for SPACs and aims to balance investor appeal with potential future capital infusion upon warrant exercise.

The decision to focus on an industry where the management team’s expertise can be leveraged is a critical strategic element. In a competitive deal environment, a clear thesis and demonstrable value-creation potential from the management are paramount for attracting target companies and securing favorable transaction terms. Investors will closely monitor the company’s progress in identifying and negotiating a merger, with particular attention paid to the valuation and strategic fit of the chosen target.

The inclusion of warrants exercisable at $11.50 presents a future dilutionary overhang. However, this is a common feature of SPAC structures. If the underlying business combination is successful and its stock price rises above $11.50, warrant holders are likely to exercise their options, providing additional capital to the company and potentially increasing the free float of its shares. The “1/8 warrant” structure means that 8 warrants are needed to exercise for one share, which mitigates immediate dilution compared to a full warrant per share structure.

The considerable option granted to the underwriters suggests confidence in the initial offering’s reception and the potential for demand that could absorb additional shares. This also allows the underwriters to manage the aftermarket trading of the units more effectively.

As Colombier III embarks on its search for a target, the market will evaluate its management’s ability to execute a compelling deal against a backdrop of increased regulatory scrutiny and a more discerning investor base for SPACs. The company’s success will hinge on its capacity to identify a high-quality business at an attractive valuation and navigate the complexities of a de-SPAC transaction.