Donald Trump Jr. is teaming up with financier Omeed Malik to take online gun retailer GrabAGun public.
Malik, who runs investment firm 1789 Capital, told the Post this is just his latest “contrarian” deal to take a company public that traditional financiers have avoided.
Trump, who also joined 1789 Capital in November, will become a special advisor to the company, which sells firearms and accessories online.
“The gun space is one of the most attacked spaces by woke corporate America,” Trump told the Post, adding that his support for grab guns could not come at a better time. “People are more concerned about their safety than ever.”
President Trump explains that GrabAGun encapsulates 1789's vision of providing funding and support to solid, well-funded businesses that have been criticized by most financiers.
“This is indicative of our business model: We're giving these evicted companies the bandwidth to operate,” Trump explained.
Mr. Malik and Mr. Trump have become important investors in the “parallel economy,” seizing opportunities missed by more enlightened investors who prioritize investing in companies that advance environmental, social, and governance issues, known as ESG investing. I am using it.
Instead of ESG, Malik coined the term EIG, which stands for entrepreneurship, innovation, and growth, to characterize 1789 Capital's priorities.
“We aim to invest in great businesses that are not compromised by ESG obligations,” Malik told the Post.
“This is a continuation of building the EIG ecosystem that will lead to further synergies between our members… We are running towards those opportunities.”
The deal values the online firearms retailer at $150 million. The company is already profitable, making more than $100 million last year, according to a company spokesperson.
Malik plans to take the company public through a special purpose acquisition company, Colombier Acquisition Corp. II, which would allow the firearms retailer to list on a public stock exchange.
Both Mr. Malik and Mr. Trump believe that while the agreement may face pushback, the priority is to support companies that encourage Americans to exercise their Second Amendment rights.
GrabAGun targets Millennials and Gen Z. This is a growing market with buyers aged 18-35 increasing by 57% since 2014.
“Young people will be able to buy any gun they want online,” Trump said, adding that all federal standards requiring retailers to conduct comprehensive background checks and keep records of every purchase are now in place. It added that GrabAGun is in compliance.
In addition to taking GrabAGun public, another company the duo backs, PublicSq., provides the technology that facilitates payments for the company. Traditional credit card companies are increasingly refusing to process firearm sales transactions that they classify as high risk.
Public Square Malik was the first company to go public through a special purpose acquisition company in 2023.
The company aims to become the next major online shopping destination for companies that value values such as “freedom,” “family,” and “the Constitution.”
Last year, PublicSq. announced that it would be introducing the payment processing technology that GrabAGun uses to facilitate payments.
The company plans to file paperwork to begin listing on the New York Stock Exchange as early as Monday.
Malik's 1789 Capital (named for the year in which the Bill of Rights was adopted) has supported news site Breitbart, researcher Cambridge Analytica, and Republican megadonor Rebecca Masters, who supported former Arizona Senate candidate Blake Masters. – Raised more than $150 million from Mercer.
1789 Capital also made its first investment in the Tucker Carlson Network.
