Online Marketplace For Companies Supporting Conservative Values To Go Public
Authored by Naveen Athrappully via The Epoch Times (emphasis ours),
A “parallel” online marketplace aiming to provide a solution for Americans who want to shop with businesses aligning with conservative values is looking to go public.
Colombier Acquisition Corps, a publicly traded acquisition company, has announced plans to merge with online marketplace PublicSq, according to a June 30 press release. “We have witnessed the pronounced need for the values of Main Street to be represented on Wall Street. PublicSq provides that solution for an emerging parallel economy full of patriotic consumers that are ready to spend their money with companies that respect and share their values,” said Michael Seifert, the Founder and Chief Executive Officer of PublicSq.
The U.S. Securities and Exchange Commission (SEC) has declared the registration statement of the merger on Form S-4 as effective. Colombier intends to hold a special meeting of stockholders on July 19.
After closing the deal, the combined company will be renamed “PSQ Holdings” and will go public, trading on the NYSE under PSQH and PSQH WS symbols. The business combination agreement is expected to close in Q3, 2023.
“We’re grateful for the community of over a million and counting freedom-loving Americans who are registered on our platform as members and the over 55,000 business vendors that have joined us,” Seifert said. PublicSq was launched as an app in October 2021.
According to Omeed Malik, the CEO and chairman of Colombier, PublicSq has “recognized and acted” on the disconnect between the priorities of large corporations and the needs of patriotic Americans.
“With the tremendous growth of its digital platform, it is clear that Michael and his team are just getting started. We are thrilled to be supporting them on this journey.”
In an interview with Fox News in April, Seifert said that PublicSq has “grown exponentially.” He called the patriotic, traditionally valued, constitution-loving American citizens “the largest unaddressed market in the world.
“There are so many entities that, for whatever reason, decided to cater to messaging that only attracts 10 percent of the country when there’s a massive cohort of 100-plus million Americans feeling like their values have been left in the dust.”
Seifert said the customers using PublicSq will not be “lectured” on politics or gender ideology. The marketplace calls itself “Pro-Life, Pro-Family, Pro-Freedom.” One of the board of directors at the company is Blake Masters, Arizona’s GOP nominee for the U.S. Senate last year.
Leftist Business Push
The announcement of PSQ Holdings comes as American conservatives have grown increasingly angry at many major brands for pushing radical leftist ideologies, especially transgenderism, which have recently triggered nationwide boycott calls.
Target stores were boycotted after the retail giant rolled out its Pride collection at the beginning of May, including some items targeted at children. Bud Light became a target after partnering with transgender social media personality Dylan Mulvaney in a promotional campaign in April. As a consequence, the companies have lost billions of dollars in market capitalization.
Other brands like Walmart, Chick-fil-A, Petsmart, and Kellogg’s have also faced boycott calls for similar reasons.
Meanwhile, brands promoting conservative ideologies have come forth and are pushing back against the progressive assault on traditional American values.
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