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MARIETTA, GA, June 13, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Global Consumer Acquisition Corp. (NASDAQ: GACQU, GACQ, GACQW) (“GACQ” or the “Company”), a special purpose acquisition company, today announced that Global Consumer Acquisition LLC (the “Sponsor”), the sponsor of the first public offering of the Company, deposited in the Company’s trust account a total of $1,826,300 (representing approximately $0.10 per GACQ common share), in order to extend the period of time the Company is to complete a business combination for an additional three (3) month period, from June 11, 2022 to September 11, 2022. The Company has issued a promissory note to the Sponsor with a principal amount equal to the amount deposited on June 9, 2022. The promissory note bears no interest and may be redeemed or converted into units of the Company (each unit consisting of one common share and one-half redeemable warrant) upon closing of a business combination. undertaken by the Company, prov. It was however agreed that the note would not be redeemed if the company was unable to complete a business combination, unless there were funds available outside of the company’s trust account. to do it. The purpose of the extension is to give the Company time to finalize its proposed business combination with GP Global Limited (“GP Global”) and Luminex Home Decor & Fragrance Holding Corporation (“Luminex”), each leading of the sector of branded products, under license and private label solutions in the Air Care and Personal Care sectors.
About the company
Global Consumer Acquisition Corp. is a blank check corporation organized for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Although not limited to any particular industry or geographic region for the purpose of effecting an initial business combination, the Company intends to focus its search for a target company in the consumer products and services sectors.
About GP Global
GP Global’s principal assets are controlling interests in MVP Group International, Inc. and Primacy Industries Ltd, two leading Air Care solutions companies based in the United States and India respectively. Primacy Industries also has a strong and emerging personal care segment. GP Global has a strong portfolio of in-house brands coupled with existing partnerships with major retailers in Europe and the United States. GP Global will bring key platform capabilities such as centers of excellence for digital and analytics, product development expertise, global sourcing and a global manufacturing base. to the combined entity.
U.S.-headquartered Luminex – formed by the merger of Candle-lite, a portfolio company of Center Lane Partners, and PartyLite, a portfolio company of Carlyle Investment Management – has quickly become the market leader n #1 branded and private label solutions in Air Care in North America with top retailers as customers, with a legacy of over 180 years in candle manufacturing, plus a significant direct-to-consumer presence in Europe through a combination of online and agency models.
Additional information and where to find it
In connection with the proposed business combination, GACQ has filed preliminary proxy statements with the SEC and intends to file a definitive proxy statement in due course. In addition, GACQ will file other relevant documents with the SEC in connection with the business combination. Copies may be obtained free of charge from the SEC’s website at www.sec.gov. Securityholders of GACQ are urged to read the proxy statement and other relevant materials as they become available before making a voting decision on the proposed business combination, as they will contain important information about the business combination and the parties to the business combination. Information contained on or accessible through websites referenced in this press release is not incorporated by reference into, and does not form part of, this press release. GACQ shareholders may also obtain a copy of the preliminary or final proxy statement, when available, as well as other documents filed with the SEC by GACQ, free of charge, at the SEC’s website at www.sec.gov or by directing a request to: Global Consumer Acquisition Corp., 1926 Rand Ridge Court, Marietta GA, 30062.
Participants in the solicitation
GACQ and its directors and officers may, under SEC rules, be considered participants in the solicitation of proxies from GACQ shareholders in connection with the business combination. A list of the names of such directors and officers and a description of their interests in GACQ will be included in the proxy statement for the proposed business combination and will be available at www.sec.gov. Additional information regarding the interests of such participants will be contained in the proxy statement for the proposed business combination when it becomes available.
GP Global, Luminex and their respective directors and officers may, under SEC rules, also be considered participants in the solicitation of proxies from GACQ shareholders in connection with the proposed business combination. Information about these individuals may be obtained by sending a request to: Global Consumer Acquisition Corp., 1926 Rand Ridge Court, Marietta GA, 30062.
Caution Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The actual results of GACQ, GP Global and Luminex may differ from their expectations, estimates and screenings. and, therefore, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “expect”, “anticipate”, “intend”, “plan”, “may”, “shall” , “could”, “should”, “believes”, “predicts”, “potential”, “continues” and similar expressions (or negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, the satisfaction of the closing conditions of the proposed business combination and the timing of the completion of the proposed business combination. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are beyond the control of GACQ, GP Global and Luminex and are difficult to predict. Factors that could cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstance that could cause the termination of the definitive merger agreements (the “Agreements”); (2) the outcome of any legal proceedings that may be brought against GACQ, GP Global and Luminex following the announcement of the agreements and the transactions contemplated therein; (3) the inability to complete the proposed business combination, including failure to obtain GACQ, GP Global and Luminex shareholder approval, certain regulatory approvals, or satisfy other conditions closure in agreements; (4) the occurrence of any event, change or other circumstance which could give rise to the termination of the agreements or which could otherwise prevent the closing of the transaction; (5) the impact of COVID-19 on the businesses of GP Global and Luminex and/or the ability of the parties to complete the proposed business combination; (6) the risk that the proposed business combination will disrupt ongoing plans and operations following the announcement and completion of the proposed business combination; (7) costs related to the proposed business combination; (8) changes in applicable laws or regulations; (9) the possibility that GP Global, Luminex or GACQ may be affected by other economic, business and/or competitive factors; and (10) other risks and uncertainties set forth from time to time in GACQ’s final prospectus for its initial public offering, including those under “Risk Factors” and in GACQ’s other filings with the SEC. GACQ cautions that the above list of factors is not exclusive. GACQ cautions readers not to place undue reliance on forward-looking statements, which speak only as of the date made. GACQ neither undertakes nor accepts any obligation or undertaking to release updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which such statement is based. .
No offer or solicitation
This press release does not constitute a solicitation of proxy, consent or authorization with respect to any security or with respect to the proposed business combination. This press release also does not constitute an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be illegal prior to registration. or qualification under the securities laws of such jurisdiction. No offer of securities will be made except by means of a prospectus satisfying the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
For investor and media inquiries, please contact:[email protected]1-800-955-8380
Source: Global Consumer Acquisition Corp.