Colombier Acquisition Corp. III (CLBR.W) Warrant
Each CLBR.W warrant gives the holder the right to buy 1 share of Colombier Acquisition Corp. III at $11.50 per share, for five years after the company completes its merger. The stock last closed at $10.20, below the strike, so the warrant is out of the money. Colombier Acquisition Corp. III has a market value of about $408.17M. Colombier Acquisition Corp. III is a SPAC (no deal announced yet). It must complete a deal by February 5, 2028 or the warrants expire worthless. There are 3.74M listed warrants; exercising all of them would add 9.3% to the 40.02M shares outstanding.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- merger + 5 years
- Redemption trigger
- $18.00
- Cashless exercise
- no
- Break-even stock price
- $12.17
From the issuer's S-1/A (2026-01-21).
Company and stock
- Company
- Colombier Acquisition Corp. III
- Underlying stock
- CLBR
- Share price
- $10.20
- Market cap
- $408.17M
- Shares outstanding
- 40.02M
- Range since Mar 2026
- $10.01 – $10.40
- Change since Mar 2026
- +1%
- Value of all listed warrants
- $2.50M (0.6% of market cap)
- Industry
- Blank check company (SPAC)
- Head office
- Palm Beach, FL
- Incorporated in
- Cayman Islands
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). Industry and head office are as the company reports them to the SEC. All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.6700
- Price / model
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Dilution
- Shares outstanding
- 40.02M
- Listed warrants
- 3.74M
- Dilution if all exercised
- 9.3%
Warrant count from filing text: public warrants.
SPAC deal
- Status
- no deal announced yet
- Target
- —
- Deal announced
- —
- Deadline
- 2028-02-05
- Latest possible deadline
- 2028-02-05
- Trust per share
- $10.11
- Sponsor
- Colombier Sponsor III LLC
- Sponsor's earlier SPACs
- 2 (1 closed a deal)
- Chance of a deal
A SPAC warrant is worth nothing if no deal closes by the deadline.
Filings and events
Questions about CLBR.W
When does the CLBR.W warrant expire?
Five years after the SPAC completes its merger; if no merger closes by the deadline, the warrants expire worthless.
What is the strike price of CLBR.W?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
How many CLBR.W warrants are outstanding?
3.74M listed warrants, equal to 9.3% dilution if all are exercised.
Related warrants
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