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Recapitalization (Tables)

9 Months Ended

Sep. 30, 2023

Recapitalization [Abstract]

Schedule of Business Combination to the Condensed Consolidated Statements of Cash Flows

The following table reconciles the elements of the Business Combination to the condensed consolidated statements of cash flows and the condensed consolidated statement of changes in stockholders’ equity for the period ended September 30, 2023:

Cash-trust and cash, net of redemptions		$	34,938,880
Less: transaction costs and advisory fees, paid			(16,834,686	)
Net proceeds from the Business Combination			18,104,194
Less: public and private placement warrant liabilities			(8,816,500	)
Less: earn-out liabilities			(2,400,000	)
Add: amounts paid in advance			2,570,919
Add: Transaction costs in accounts payable and accrued expenses			2,967,393
Reverse recapitalization, net		$	12,426,006

Schedule of Common Stock Issued Immediately

The number of shares of Common Stock issued immediately following the consummation of the Business Combination were:

Colombier Class A common stock, outstanding prior to the Business Combination			17,250,000
Less: Redemption of Colombier Class A common stock			(13,827,349	)
Class A common stock of Colombier			3,422,651
Colombier Class B common stock, outstanding prior to the Business Combination			4,312,500
Business Combination shares			7,735,151
PSQ Shares			21,522,825
Common Stock immediately after the Business Combination			29,257,976

Schedule of Number of PSQ Shares

The number of PSQ shares was determined as follows:

		PSQ Shares				PSQ Shares after conversion ratio
Class A Common Stock			940,044				18,309,147
Class C Common Stock			165,000				3,213,678
Total			1,105,044				21,522,825

Schedule of Transaction Costs

For the three and nine months ended September 30, 2023, transaction costs incurred within the condensed consolidated statements of operations were as follows:

		Three months ended September 30, 2023				Nine months ended September 30, 2023
Accounting fees		$	247,912			$	756,257
Legal fees			1,818,914				5,049,149
Travel and other expenses			331,971				331,971
One-time share-based payment to influencers and advisors			910,800				910,800
Total		$	3,309,597			$	7,048,177

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

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