# GrabAGun **GrabAGun** (GrabAGun Digital Holdings, NYSE: PEW) is an online retailer of firearms and ammunition based in Coppell, Texas, founded in 2010 and run by CEO Marc Nemati. [[Omeed Malik]]'s second blank-check company took it public in July 2025, and [[Donald Trump Jr.]] sits on its board. A year later, a proposed rule from the president's [[ATF]] would let online gun sellers like GrabAGun ship directly to buyers, which would remove the main limit on the company's business. ## Going public - **Deal (announced January 6, 2025).** A merger with Colombier Acquisition Corp. II at a pro forma enterprise value of **$150 million** (SPACInsider's headlines cite $197 million, likely a different measure). The announcement framed the company as defending the [[Second Amendment]] "against cancellation and corporate weaponization." See [[Colombier SPACs]]. - **Close (July 15, 2025).** About **$179 million** gross and **$119 million** net. Almost no SPAC shareholders redeemed, and there was no PIPE (a private side investment). - **Debut (July 16, 2025).** The stock fell more than 20% on its first day; Bloomberg put the drop at about 25%. Trump Jr. had been described as an "advisor" when the deal was announced; he joined the board at closing and holds about 300,000 shares. On debut day he called the listing "a vindication of all the insanity, all of the 'woke' nonsense that we've been watching and facing for the last decade." ## Business and results Federal law requires a gun bought online to be shipped to a licensed dealer (an FFL), where the buyer picks it up after an in-person background check. GrabAGun runs the online storefront and the logistics. In January 2026 it launched PEW Logistics, a white-label service that ships directly to consumers for gun makers such as KelTec. | Period | Revenue | Result | |---|---|---| | FY2025 | $96.4M (+3.6%) | $2.5M net loss, against a $4.5M profit in 2024 | | Q1 2026 | $25.9M (+11.1%) | $1.8M net loss | | Q2 2026 | $23.2M (+9.4%) | $1.8M net loss; $97.5M cash | Reuters reported that by July 2026 the stock was down about **85%** over the previous year. With $97.5 million in cash at mid-2026, mostly left over from the SPAC trust, the company's market value had fallen to about the size of that cash by early October 2026 (Stockopedia). ## The ATF rule In spring 2026 the ATF proposed letting licensed dealers ship firearms directly to in-state buyers once the buyer passes an online identity check and a background check. It was one of 34 deregulatory proposals that followed a February 2025 executive order. Reuters called GrabAGun Trump Jr.'s "Amazon of guns" and reported it could make millions from the change. As of October 2, 2026 the rule had not been finalized (Mother Jones). This is the same pattern as [[1789 Capital]]'s other holdings: a company tied to the president's son stands to benefit from a regulatory decision made by his father's administration. ## See Also - [[Colombier SPACs]] · [[Omeed Malik]] · [[Donald Trump Jr.]] · [[1789 Capital]] - [[PublicSquare]] — the first Colombier deal - [[ATF]] · [[Second Amendment]] · [[Patriot Mobile]] (another parallel-economy company) - [[Trump Family Corruption Ecosystem]]