MARIETTA, GA, June 11, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – Global Consumer Acquisition Corporation (the “Company”) today announced that it has closed its initial public offering of 17,000,000 units at $ 10.00 l ‘unit. The Units are listed on the Nasdaq Capital Market (“Nasdaq”) and began trading on Wednesday, June 9, 2021, under the symbol “GACQU”. Each unit consists of one Class A common share of the Company and one redeemable half warrant. Each whole warrant entitles its holder to purchase one Class A common share at a price of $ 11.50 per share. Only whole warrants may be exercised and will be traded. Once the securities comprising the Units begin to trade separately, the Class A Common Shares and Warrants are expected to be listed on Nasdaq under the symbols “GACQ” and “GACQW”, respectively.
The Company is a blank check company incorporated for the purpose of effecting a merger, a capital stock exchange, an acquisition of assets, a purchase of shares, a reorganization or a similar business combination with one or more companies. . While the Company may seek an acquisition opportunity in any business, industry, sector or geographic location, the Company intends to focus on industries that complement the experience of the management team and capitalize on the ability of the management team to identify and acquire a business, focusing on the consumer products and services sectors, where the management team has extensive experience. The company is led by the Co-Chairman and CEO, Rohan Ajila, and the Co-Chairman, Gautham Pai.
Kingswood Capital Markets, a division of Benchmark Investments LLC, acted as sole bookrunner for the offering. ARC Group acted as financial advisor for the offer. The Company has granted the underwriter a 45-day option to purchase up to 2,550,000 additional units at the initial public offering price to cover over-allotments, if any.
The offer was made only by means of a prospectus. Copies of the prospectus can be obtained from Kingswood Capital Markets, a division of Benchmark Investments LLC, Attn: Syndicate Department, 590 Madison Ave, 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at [email protected]
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (“SEC”) and declared effective by them on June 8, 2021. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of the securities of such a state or jurisdiction.
This press release contains statements that constitute “forward-looking statements”, in particular with respect to the initial public offering. No assurance can be given that the offer discussed above will be carried out under the conditions described, or not at all. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set out in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the offering filed with the Company. DRY. Copies are available on the SEC’s website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this posting, except as required by law.