Colombier Acquisition Corp. III closes IPO of 29.9M units at $10, raising $299M; trust account funded

Colombier Acquisition Corp. III

IPO of 29,900,000 units at $10.00 per unit included full exercise of underwriters' over-allotment of 3,900,000 units.
Gross proceeds of $299,000,000 from IPO; $1,500,000 from private placement of 150,000 units to sponsor.
Total of $299,000,000 placed in trust account; shares subject to possible redemption recorded at $299,000,000.
Audited balance sheet shows cash of $1,237,720, working capital $764,148, accumulated deficit $2,236,863.
Auditor notes substantial doubt about going concern; company lacks liquidity to sustain operations for one year.

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