SCHEDULE 13G/A: Decagon Asset Management and Benjamin Durham Disclose 5.98% Stake in Colombier Acquisition Corp. II

Decagon Asset Management LLP and Benjamin John Durham have jointly disclosed a beneficial ownership of 5.98% in Colombier Acquisition Corp. II's Class A Ordinary Shares, as detailed in an amended Schedule 13G filing.

Summary

• Decagon Asset Management LLP and Benjamin John Durham (collectively, the "Reporting Persons") have filed an amended Schedule 13G with the SEC.
• The filing reports their beneficial ownership of Class A Ordinary Shares of Colombier Acquisition Corp. II.
• As of March 31, 2025, the Reporting Persons collectively beneficially own 1,016,770 Class A Ordinary Shares.
• This ownership represents 5.98% of the Class A Ordinary Shares outstanding.
• The percentage is calculated based on 17,000,000 Class A Ordinary Shares outstanding as of March 10, 2025, as reported in the company's Annual Report on Form 10-K.
• Decagon Asset Management LLP serves as the investment manager for certain funds and accounts (DAM Vehicles), including Squarepoint Diversified Partners Fund Limited, which has the right to receive dividends or proceeds from the sale of more than 5% of the Class A Ordinary Shares.
• Benjamin John Durham indirectly controls Decagon Asset Management LLP.
• The Reporting Persons certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing (Schedule 13G) disclosing beneficial ownership, which is inherently neutral in tone and content. It provides factual information without expressing positive or negative sentiment regarding the issuer's performance or prospects.

Positives

• NA

Negatives

• NA

Risks

• NA

Future Outlook

NA

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing indicates a significant institutional investment in a Special Purpose Acquisition Company (SPAC), which are vehicles designed to merge with or acquire private companies. The investment by Decagon Asset Management, an investment manager, suggests a strategic position in the SPAC market, which has seen fluctuating activity and investor interest.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor (Decagon Asset Management LLP) holding 5.98% of Class A Ordinary Shares could be viewed as a signal of institutional confidence or interest in the company. It also identifies a large holder whose future actions (e.g., buying or selling shares) could influence the company's share price.

Next Steps

• NA

Key Dates

Keywords

Colombier Acquisition Corp. II, Decagon Asset Management, Benjamin John Durham, Schedule 13G, Beneficial Ownership, Class A Ordinary Shares, Investment Manager, SPAC, Special Purpose Acquisition Company