The PAC, Dream United, was formed by Booker's former classmate and friend Steve Phillips and T-Bone.
Phillips, a major Democrat donor, has previously fundraiser for former President Barack Obama and other candidates.
On Wednesday, Dream United announced that they will be shutting down after failing to reach Phillips' fundraising goals. He had aimed to raise $10 million for Booker's campaign, but was only able to come up with $1.1 million during the first six months of the year, the Associated Press reports.
Ironically, Booker has disavowed funding from super PACS, despite having one formed just for him.
The website for Dream United now features a statement about the end of their efforts.
"We remain firm in our belief that Senator Cory Booker is uniquely qualified to unite and heal Americans across this country at this critical point in our history. Respecting the Senator's publicly-stated sentiments about SuperPACs, Dream United will cease operations effective immediately. On November 27, 2019, Dream United initiated the steps to formally close down," the website said. "Dream United PAC was a federal, independent-expenditure only committee (or super PAC) that is registered with the Federal Election Commission and not authorized by any candidate or candidate's committee."
Booker is currently polling at 1.7%, according to the Real Clear Politics average from multiple polling sources.