<SEC-DOCUMENT>0001213900-23-042134.txt : 20230731
<SEC-HEADER>0001213900-23-042134.hdr.sgml : 20230731
<ACCEPTANCE-DATETIME>20230523060552
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-23-042134
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230523

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Colombier Acquisition Corp.
		CENTRAL INDEX KEY:			0001847064
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				862062844
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		222 LAKEVIEW AVENUE
		STREET 2:		SUITE 800
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33401
		BUSINESS PHONE:		(561) 805-3588

	MAIL ADDRESS:	
		STREET 1:		222 LAKEVIEW AVENUE
		STREET 2:		SUITE 800
		CITY:			WEST PALM BEACH
		STATE:			FL
		ZIP:			33401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PSQ Holdings, Inc
		DATE OF NAME CHANGE:	20230719

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Colombier Acquisition Corp.
		DATE OF NAME CHANGE:	20210219
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Colombier Acquisition Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>214 Brazilian Avenue, Suite 200-J</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Palm Beach,&nbsp;FL&nbsp;33480&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VIA EDGAR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">May 22, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Office of Trade &amp; Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left">Attention:</TD><TD STYLE="text-align: justify">Abe Friedman</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Lyn Shenk</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Kate Beukenkamp</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.75in">Donald Field</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Re: Colombier Acquisition Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Registration Statement on Form S-4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Filed April 7, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>File No. 333-271177</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Colombier Acquisition Corp.
(the &ldquo;<B>Company</B>&rdquo;) hereby transmits its response to the comment letter received from the staff (the &ldquo;<B>Staff</B>&rdquo;)
of the U.S. Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) on May 5, 2023, relating to the Registration Statement
on Form S-4, filed by the Company with the Commission on April 7, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the Staff&rsquo;s convenience,
we have repeated below the Staff&rsquo;s comment in bold and have followed each comment with the Company&rsquo;s response. Disclosure
changes made in response to the Staff&rsquo;s comments have been made in Amendment No. 1 to the Registration Statement on Form S-4 (the
&ldquo;<B>Registration Statement</B>&rdquo;) which is being submitted to the Commission contemporaneously with the submission of this
letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Registration Statement on Form S-4 filed April 7, 2023</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Cover Page</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>We note your disclosure that following the Business Combination, Michael Seifert will carry a majority
of the voting power of the Combined Company&rsquo;s Class A Common Stock and Class C Common Stock and that the Combined Company will be
a &ldquo;controlled company.&rdquo; Please revise the cover page to disclose the percentage of voting power to be held by Mr. Seifert following
the offering and Business Combination and, if true, that Mr. Seifert will have the ability to determine all matters requiring approval
by stockholders.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on the cover page of the Registration
Statement to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>We note your disclosure that the Combined Company will adopt a dual-class stock structure with disparate
voting rights. Please revise the cover page to quantify the voting power that the new Class C Common Stock will have after the offering
and Business Combination due to the disparate voting rights attached to the different classes of capital stock and identify the major
holder of such shares. Additionally, please add a Q&amp;A regarding the Combined Company&rsquo;s new duel-class structure including the ownership
and voting control of the Combined Company after the Business Combination and its effect on the voting power of your public stockholders
(before and after the adoption of the new dual-class stock structure).</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on the cover page of the Registration
Statement and added new Q&amp;As on pages 21 and 22 to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>We note that in this section you state that &ldquo;[a]s of April 3, 2023, based on funds in the Trust
Account...the pro rata portion of the funds available...for redemption of public shares of Colombier Class A Common Stock was approximately
$10.10 per share.&rdquo; Please reconcile and revise this dollar amount with your statements elsewhere in this proxy statement/prospectus
that the pro rata amount is approximately $10.11 per share.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company
respectfully acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on the cover page and
elsewhere in the Registration Statement to reflect a pro rata amount calculated on more recent/current trust account information
relative to the filing date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>We note that your disclosure reflects that the Sponsor and Colombier&rsquo;s officers and directors have
agreed to waive their redemption rights with regard to any shares of Colombier Class A Common Stock they may hold in connection with the
consummation of the Business Combination. Please revise the disclosure throughout your proxy statement/prospectus where appropriate to
describe any consideration provided in exchange for this agreement.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 40 of the Registration Statement
to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Frequently Used Terms, page 2</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>We note your description of &ldquo;CF&amp;CO&rdquo; meaning &ldquo;Cantor Fitzgerald &amp; Co.&rdquo; Please
revise this term to provide a description of the role of and/or services provided by CF&amp;CO in connection with the Business Combination
or otherwise. Similarly, revise other terms as appropriate throughout this section to provide the same context. We note that you later
describe CF&amp;CO as your &ldquo;capital markets advisor,&rdquo; for example.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 2 to 6 of the Registration
Statement to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Questions and Answers about the Colombier Special Meeting, page
11</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>6.</B></TD><TD STYLE="text-align: justify"><B>Please revise to add a Q&amp;A discussing the Earnout to include the number of shares, timeframe and metrics or milestones required
to earn the associated shares. Please include enough information so public stockholders can clearly understand the terms and conditions
of the Earnout.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company
respectfully acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on pages 20 and 21 of
the Registration Statement to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Q: What interests do Colombier&rsquo;s Sponsor and current officers,
directors and financial advisors...?, page 14</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>7.</B></TD><TD STYLE="text-align: justify"><B>Please revise the second bullet of the answer to quantify all reimbursable expenses. Additionally, please revise the last two bullets
of the answer to quantify all fees and reimbursable expenses to be paid to the IPO Underwriter, B. Riley and CF&amp;CO.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 15-17 and page 130-132 of the
Registration Statement to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>8.</B></TD><TD STYLE="text-align: justify"><B>We note from your disclosure on page 243 that it appears you have waived the corporate opportunities
doctrine in connection with the Business Combination. Please revise this section to include a discussion regarding the waiver of this
doctrine as well as disclose whether you believe this waiver materially impacted your search for an acquisition target.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 258 of the Registration Statement
and on page 130-132 &ldquo;<I>The Business Combination Proposal&nbsp;&mdash;&nbsp;Interests of Colombier&rsquo;s Sponsor, Directors and
Officers and Advisors in the Business Combination</I>&rdquo; to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Q: Did the Colombier Board obtain fairness
opinion (or any similar report or appraisal)...?, page 15</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>9.</B></TD><TD STYLE="text-align: justify"><B>Please revise this Q&amp;A to provide a cross-reference to the related risk factor regarding the decision
not to obtain a fairness opinion or other report or appraisal in connection with your determination to approve the Business Combination.
We note your risk factor disclosure under the heading &ldquo;Neither the Colombier Board nor any committee thereof obtained a fairness
opinion...&rdquo; on page 53.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 17 of the Registration Statement
to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Q: What equity stake will current Colombier stockholders and
PSQ Stockholders hold...? , page 17</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>10.</B></TD><TD STYLE="text-align: justify"><B>We note the tables providing five scenarios regarding varying ownership levels assuming redemption
levels by different stockholders. Please revise your tables, and elsewhere throughout your proxy statement/prospectus, to clarify who
represents &ldquo;Initial Stockholders.&rdquo; For example, please make clear if you are referring to holdings by the Sponsor or other insiders
such as the officers and directors of the company. Additionally, please revise the tables to include all potential sources of dilution
affecting public stockholders related to this Business Combination. In this regard, please revise the tables to include the Earnout Shares
and any shares being reserved for the new Incentive Plan and ESPP. Lastly, we note certain references to a potential PIPE financing. To
the extent the Business Combination includes a PIPE financing or some other similar financing, the tables should be revised to account
of any additional dilution to public stockholders.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 19 of the Registration Statement
to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Q: What
happens to the funds held in the Trust Account upon consummation of the Business Combination?, page 25</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>11.</B></TD><TD STYLE="text-align: justify"><B>To the extent possible, please revise to specifically quantify the items detailed in the four listed
bullets. Consider adding a chart or some other presentation so public stockholders can clearly understand how the funds held in the Trust
Account are being used in connection with this Business Combination.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 29 of the Registration Statement
to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>PSQ Holdings,
Inc., page 29</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>12.</B></TD><TD STYLE="text-align: justify"><B>Please revise here or in another section of the summary to briefly discuss PSQ&rsquo;s business and operations
to date in greater detail. In this regard, we note that PSQ was formed in early 2021 and has a limited operating history with limited
assets, revenues and a history of net losses. We also note that the PSQ&rsquo;s auditors have included a going concern qualification in PSQ&rsquo;s
audit report. Please include enough information so that public stockholders can get a better understanding of the acquisition target in
the summary section.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on pages 33 and 34 of the Registration
Statement to include further disclosure on PSQ&rsquo;s business and operations to date, and to add disclosure to the summary risk factors
on page 49 relating to the going concern qualification in PSQ&rsquo;s audit report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Organizational
Structure, page 31</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>13.</B></TD><TD><B>Please refer to the Combined Company&rsquo;s organizational structure chart. Please revise the chart to include the voting power
percentages as discussed in the chart introduction.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 37 of the Registration
Statement to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 2.75pt; text-align: justify; text-indent: 0pt"><B><U>Because
Colombier&rsquo;s initial stockholders, executive officers and directors will lose their entire investment ?, page 54</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>14.</B></TD><TD STYLE="text-align: justify"><B>Please revise this risk factor and elsewhere throughout your proxy statement/prospectus as appropriate
to quantify the aggregate dollar amount and describe the nature of what the Sponsor and its affiliates have at risk that depends on the
completion of the business combination. Include the current value of securities held, loans extended, fees due, and out-of-pocket expenses
for which the Sponsor and its affiliates are awaiting reimbursement. Provide similar disclosure for the company&rsquo;s officers and directors,
if material. We note your Q&amp;A disclosure on page 14 and the risk factor immediately subsequent stating that the aggregate amount at
risk to Colombier&rsquo;s Sponsor is $5,725,000.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 62 of the Registration Statement
to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>The Proposed
Charter provides for a dual-class multiple voting Common Stock structure..., page 63</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>15.</B></TD><TD STYLE="text-align: justify"><B>Please revise the risk factor discussion here to make clear what class of stock would constitute the
dual-class stock structure in addition to Class A Common Stock. For example, disclose whether you are referring the Class C Common Stock
that will be held by PSQ&rsquo;s founder resulting in the Combined Company being a controlled company. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 72 of the Registration Statement
to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Risks Related
to Ownership of Combined Company Common Stock Colombier stockholders will experience immediate dilution as a consequence of the issuance
of Common Stock..., page 65</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>16.</B></TD><TD STYLE="text-align: justify"><B>Please revise the risk factor discussion here to discuss the various redemption scenarios presented
elsewhere in your disclosure in addition to the &ldquo;no redemptions&rdquo; scenario currently disclosed. Additionally, please expand your
disclosure to briefly discuss how having a minority share position may reduce the influence that Colombier&rsquo;s current stockholders have
on the management of the Combined Company. Additionally, please expand the risk factor to discuss all sources of dilution associated with
the Business Combination such as the Earnout and new Incentive Plan and ESPP.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 74 of the Registration
Statement to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>PSQ&rsquo;s five
core values may not always align with the interests of its business or its stockholders., page 77</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>17.</B></TD><TD STYLE="text-align: justify"><B>Please revise the risk factor here to briefly expand your discussion to disclose the current and future voting control that will
be held by PSQ&rsquo;s founder, Michael Seifert.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on pages 86 and 87 of the Registration
Statement to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Risks Related
to PSQ Certain content or communications by consumers or business members..., page 77</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>18.</B></TD><TD STYLE="text-align: justify"><B>Please revise this risk factor as appropriate to briefly describe whether certain content or communications
by consumer or business members participating on PSQ&rsquo;s platform could expose the company to risk of litigation or other formal legal action
or liability beyond the risk of negative publicity and customer attraction and retention. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 86 of the Registration Statement
to also address the risk of litigation or other formal legal action or liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>The Business
Combination Proposal (Proposal 2) Background of the Business Combination Description of Negotiations between Colombier and PSQ, page 140</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>19.</B></TD><TD STYLE="text-align: justify"><B>We note that after the initial LOI was sent by Colombier to Mr. Seifert, Colombier and PSQ and their
respective advisors &ldquo;continued to discuss&rdquo; until the LOI was executed by both parties. Please revise your disclosure to briefly
summarize what was discussed during this period before reaching an executed LOI. Amend your disclosure to describe the material terms
of these discussions, including the positions of the parties and how the material terms that were negotiated by the parties evolved throughout
this period, especially with regard to the enterprise value of PSQ, consideration to be received, adoption of a dual-class stock structure,
etc. Please include enough detail so that the public stockholder can fully understand how the final terms of the LOI were determined.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 151 of the Registration Statement
to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>20.</B></TD><TD STYLE="text-align: justify"><B>Disclose who proposed the total enterprise value of PSQ of $200 million, as contained in the LOI executed on December 21, 2022,
and how it was determined.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 151 of the Registration Statement
to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>21.</B></TD><TD STYLE="text-align: justify"><B>Please revise this section to account for the role of CF&amp;CO in the background of the business combination,
including any presentations, attendance at any meetings, and its role in any other activities related to identifying, engaging in negotiations
and eventually executing the merger agreement between Colombier and PSQ. We note that your disclosure on page 15 describes CF&amp;CO as
engaged to serve as a capital markets advisor to Colombier. However, CF&amp;CO is mentioned only briefly in the final paragraph of this
section.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 152 and page 154 of the Registration
Statement to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Colombier
Board&rsquo;s Reason for the Approval of the Business Combination, page 143</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>22.</B></TD><TD STYLE="text-align: justify"><B>Please revise your disclosure to highlight the risk that the Sponsor will benefit from the completion
of the Business Combination and may be incentivized to complete an acquisition of a less favorable target company or on terms less favorable
to stockholders rather than liquidate. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 157-158 and page 146-148 of the
Registration Statement to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>23.</B></TD><TD STYLE="text-align: justify"><B>Please clarify if the Sponsor and its affiliates can earn a positive rate of return on their investment,
even if other SPAC stockholders experience a negative rate of return in the post-business combination company.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 157-158 and page 146-148 of the
Registration Statement to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Colombier
Financial Analysis, page 146</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>24.</B></TD><TD STYLE="text-align: justify"><B>We note that Colombier management prepared certain analyses and valuations related to PSQ based upon
what appears to be fairly aggressive market capture rates (i.e., 1%) and company comparisons. We also note that the Colombier Board listed
&ldquo;valuation&rdquo; has a potential negative risk related to the Business Combination. Given PSQ&rsquo;s limited operations to date and early
stage of development, please revise to include a risk factor discussing Colombier management&rsquo;s valuation analyses and assumptions (i.e.,
market capture rates and selected Guideline Companies) and the associated risk to public stockholders.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has added the risk factor on page 59-61 to include the requested
information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Guideline
Company Analysis, page 149</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>25.</B></TD><TD STYLE="text-align: justify"><B>We note your disclosure regarding the selection of Internet Services Companies and Guidelines Companies
used in reaching the valuation of $200 million for PSQ, including the disclosed differences between PSQ and these companies. However,
please revise your disclosure to briefly discuss why you did not select any earlier-stage companies or companies that are otherwise at
more similar revenue or other financial metric levels to that of PSQ in determining a valuation. In this regard, we note your disclosure
that states that PSQ is at an earlier stage development than the Guideline Companies, which are generally better capitalized and have
better-established user bases than PSQ. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 161-162 of the Registration Statement
to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Information
about PSQ Our Opportunity, page 206</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>26.</B></TD><TD><B>Please revise to balance your disclosure with your reported revenues and net losses for 2021 and 2022.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on pages 217 and 218 of the Registration
Statement to include disclosure to balance PSQ&rsquo;s reported revenues and net losses for 2021 and 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Our Platform,
page 207</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>27.</B></TD><TD STYLE="text-align: justify"><B>We note that here and throughout your proxy statement/prospectus that you state that for a business
to be included on the PSQ platform they must &ldquo;confirm that they respect our five core values.&rdquo; Please expand your disclosure
to discuss this aspect of your business model in greater detail (e.g., what is entailed in confirming respect for the five core values,
how you monitor or otherwise determine adherence to these values, as well as any penalties for non-compliance and how this may impact
the business consumers seeking to engage with your platform). Additionally, please clarify if both business members seeking to use your
platform as well as consumer members are subject to this confirmation. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 219 of the Registration Statement
to include additional disclosure regarding PSQ&rsquo;s process for confirming and monitoring for adherence to PSQ&rsquo;s five core values,
as well as other additional disclosure relating to this aspect of PSQ&rsquo;s business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Our Growth
Strategy, page 211</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>28.</B></TD><TD STYLE="text-align: justify"><B>We note that under the bulleted disclosure titled &ldquo;Increase Monetization on our Platform&rdquo; that you state that you are
still &ldquo;in the early stages of monetization on our platform.&rdquo; Please balance this disclosure with a brief description of your
revenues and/or profitability to date. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 223 of the Registration Statement
to include a brief description of PSQ&rsquo;s revenues and profitability to date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Product Development,
page 213</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>29.</B></TD><TD STYLE="text-align: justify"><B>We note your statement that your platform powers &ldquo;hundreds of thousands of members, and tens of
thousands of business members...&rdquo; For context, please revise your disclosure to quantify these respective figures to date. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 225 of the Registration Statement
to include quantitative information relating to PSQ&rsquo;s consumer members and business members.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Management&rsquo;s
Discussion and Analysis of Financial Condition and Results of Operations of PSQ Liquidity and Capital Resources, page 223</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>30.</B></TD><TD STYLE="text-align: justify"><B>Please revise this section and elsewhere throughout your proxy statement/prospectus as appropriate
to clarify that under the terms of the merger agreement PSQ must secure proceeds from a Permitted Financing in an amount equal to at least
$15.0 million on or before May 15, 2023 as reflected in your disclosure under &ldquo;Termination Fee&rdquo; on page 133. As currently discussed
elsewhere in your disclosure, the Permitted Financing available PSQ is presented as being permissible rather than necessary to consummate
the merger and Business Combination. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company
respectfully acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 143 of the
Registration Statement to reflect the fact PSQ has waived its termination right relating to the Permitted Financing referred hereto in the Staffs&rsquo; comment in accordance with the terms in the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>Certain Relationships
and Related Person Transactions Colombier Administrative Support Agreement, page 263</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>31.</B></TD><TD STYLE="text-align: justify"><B>Please revise this section to identify the &ldquo;affiliate of the Sponsor&rdquo; disclosed in this section
as receiving $10,000 per month for office space and this entity&rsquo;s relationship to your officers and directors. In this regard, we note
your discussion of Farvahar Capital LLC under the definition of &ldquo;Administrative Services Agreement&rdquo; in the &ldquo;Frequently
Used Terms&rdquo; section of your proxy statement/prospectus as well as your CEO&rsquo;s position as Founder and CEO of Farvahar Partners.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 4 and page 279 of the Registration
Statement to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt"><B><U>PSQ Holdings,
Inc. (dba PublicSq.) Report of Independent Registered Public Accounting Firm, page F-26</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0pt; text-align: justify; text-indent: -0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>32.</B></TD><TD><B>Please amend to include a signed audit report for PSQ Holdings, Inc., as required by Rule 2-02 of Regulation S-X.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page F-42 of the Registration Statement
to include the signed audit report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B><U>General</U></B></P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>33.</B></TD><TD STYLE="text-align: justify"><B>With a view toward disclosure, please tell us whether your sponsor is, is controlled by, or has substantial
ties with a non-U.S. person. Please also tell us whether anyone or any entity associated with or otherwise involved in the transaction,
such as the target, is, is controlled by, or has substantial ties with a non-U.S. person. If so, also include risk factor disclosure that
addresses how this fact could impact your ability to complete your initial business combination. For instance, discuss the risk to investors
that you may not be able to complete an initial business combination with a U.S. target company should the transaction be subject to review
by a U.S. government entity, such as the Committee on Foreign Investment in the United States (CFIUS), or ultimately prohibited. Further,
if applicable, disclose that the time necessary for government review of the transaction or a decision to prohibit the transaction could
prevent you from completing an initial business combination and require you to liquidate. Disclose, if applicable, the consequences of
liquidation to investors, such as the losses of the investment opportunity in a target company, any price appreciation in the combined
company, and the warrants, which would expire worthless. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><U>Response:</U> The Company respectfully
acknowledges the Staff&rsquo;s comment and advises the Staff that it has amended its disclosure on page 68 of the Registration Statement
to include the requested information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company respectfully advises
the Staff that neither it nor its sponsor, Colombier Sponsor LLC, a Delaware limited liability company (the &ldquo;Sponsor&rdquo;),
is controlled by a non-U.S. Person, nor does either have substantial ties to a non-U.S. person. Omeed Malik, the Company&rsquo;s
Chief Executive Officer and Chairman of the Company&rsquo;s board of directors and a U.S. citizen, is the sole managing member of
the Sponsor. Additionally, the target is not controlled by, and does not have substantial ties with, a non-U.S. person.
Nevertheless, we have added a new risk factor on page 68 of the Registration Statement in view of the Staff&rsquo;s comment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">* * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We thank the Staff for its
review of this response. Should you have any questions or require any additional information, please do not hesitate to contact our legal
counsel, Meredith Laitner, Esq., of Ellenoff Grossman &amp; Schole LLP, at mlaitner@egsllp.com or by telephone at (212) 370-1300.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colombier Acquisition Corp.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Omeed Malik</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Omeed Malik</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left">cc:</TD><TD STYLE="text-align: justify">Ellenoff Grossman &amp; Schole LLP</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Glenn Pollner</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Andrew Alin</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Judd Abramson</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">Wilmer Cutler Pickering Hale and Dorr LLP</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">10</P>

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