PublicSq. Set to Debut on NYSE Through Strategic Merger with Colombier Acquisition Corp.

In just eight months since its nationwide rollout, PublicSq. has emerged as a formidable player in a market overlooked by traditional platforms. The values-aligned marketplace now counts over 450,000 active members and hosts more than 40,000 businesses, positioning itself to capture a massive segment of America’s estimated 100 million consumer base seeking alternatives aligned with their principles.

The Deal Structure and Financial Impact

The merger agreement between PublicSq. and Colombier Acquisition Corp. (NYSE: CLBR) charts an aggressive growth trajectory. Under the transaction terms, PublicSq. shareholders will receive newly issued shares valued at $200 million, while the combined entity is poised to secure up to $158.5 million in fresh capital—capital earmarked specifically for platform expansion and new revenue channel development, provided no shareholder redemptions occur.

Following the anticipated close in Q3 2023, the newly combined company will operate under the PublicSq. name (ticker: PSQH) on the New York Stock Exchange, graduating from SPAC status to full public market participation.

Leadership and Strategic Vision

Michael Seifert, the founder and CEO driving PublicSq.'s mission, will maintain majority voting control post-merger, ensuring continuity in the company’s core values-first approach. His vision—building a “parallel economy” where Americans direct spending toward businesses sharing their convictions—has resonated strongly with both consumers and merchant partners.

The board composition reflects this strategic ambition:

• Michael Seifert brings proven expertise in business development, politics, and cultural positioning
• Omeed Malik (Colombier CEO/Chairman) adds investment banking acumen through Farvahar Partners and investment experience via 1789 Capital
• Nick Ayers contributes policy and business strategy expertise gained through White House service
• Blake Masters brings entrepreneurial and investor credentials, including previous operational leadership at a major investment firm

Capturing an Underserved Market

The fundamental premise driving PublicSq.'s rapid ascent is straightforward: millions of American consumers feel disconnected from corporations they perceive as misaligned with their values. This marketplace bridges that gap by enabling “values-based shopping”—allowing users to direct their purchasing power toward merchants explicitly committed to principles that matter to them.

The platform’s free-to-join model for both consumers and business owners eliminates friction to adoption, a key factor in its explosive member and merchant growth within its first year.

Regulatory Pathway and Next Steps

Both boards have unanimously approved the transaction. Colombier will file a Form S-4 registration statement with the SEC, with stockholder approval required from both entities. The merger is subject to customary closing conditions and expected to finalize in Q3 2023, with the combined company immediately becoming a NYSE-listed entity.

Legal advisory teams from top-tier firms are guiding each party through the complex regulatory landscape, including preparation of proxy materials and SEC filings.

What This Means for the Market

PublicSq.'s public market debut signals institutional validation of the values-aligned economy thesis. As traditional retail consolidates around a handful of mega-platforms, this alternative marketplace fills a genuine demand among consumers seeking differentiation and principle-based purchasing options.

The $158.5 million capital infusion positions PublicSq. to accelerate product development, expand merchant partnerships, and explore adjacent revenue opportunities—potentially extending its ecosystem beyond core marketplace functions into complementary services.