Marietta, GA – (NewMediaWire) – June 8, 2021 – Global
Consumer Acquisition Corporation (the “Company”) announced today that it priced
its initial public offering of 17,000,000 units at $10.00 per unit. The units
will be listed on the Nasdaq Capital Market (“Nasdaq”) and will begin trading
tomorrow, Wednesday, June 9, 2021, under the ticker symbol “GACQU”. Each unit
consists of one share of the Company’s Class A common stock and one-half of one
redeemable warrant. Each whole warrant entitles the holder thereof to purchase
one share of Class A common stock at a price of $11.50 per share. Only whole
warrants are exercisable and will trade. Once the securities comprising
the units begin separate trading, shares of the Class A common stock and warrants
are expected to be listed on Nasdaq under the symbols “GACQ,” and “GACQW,”
The Company is a blank
check company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. While the Company may pursue an
acquisition opportunity in any business, industry, sector or geographical
location, the Company intends to focus on industries that complement the
management team’s background, and to 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 Co-Chairman and Chief Executive Officer, Rohan
Ajila and Co-Chairman, Gautham Pai.
Markets, division of Benchmark Investments LLC, is acting as the sole bookrunner
for the offering. The Company has granted the underwriter a 45-day option to
purchase up to an additional 2,550,000 units at the initial public offering
price to cover over-allotments, if any.
The offering is being
made only by means of a prospectus. Copies of the prospectus may be obtained,
when available, from Kingswood Capital Markets, 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@example.com.
statement relating to these securities has been filed with, and declared
effective by, the Securities and Exchange Commission (“SEC”) on June 8, 2021.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such an offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction.
This press release
contains statements that constitute “forward-looking statements,” including
with respect to the initial public offering. No assurance can be given that the
offering discussed above will be completed on the terms described, or at all.
Forward-looking statements are subject to numerous conditions, many of which
are beyond the control of the Company, including those set forth in the Risk
Factors section of the Company’s registration statement and preliminary
prospectus for the offering filed with the SEC. Copies are available on the
SEC’s website, www.sec.gov. The Company undertakes no obligation to update
these statements for revisions or changes after the date of this release,
except as required by law.