Item 8.01 Other Events
On September 7, 2022, Global Consumer Acquisition Corp. (the "Company") notified
the trustee of the Company's trust account (the "Trust Account") that it was
extending the time available to the Company to consummate its initial business
combination from September 11, 2022 to December 11, 2022 (the "Extension"). The
Extension provides the Company with additional time to complete its proposed
business combination with GP Global Limited ("GP Global") and Luminex Home Décor
& Fragrance Holding Corporation ("Luminex"), industry leaders in branded,
licensed and private label solutions in the Air Care and Personal Care sectors.
The Extension is the second of up to two three-month extensions permitted under
the Company's governing documents.
In connection with the Extension, the Company's sponsor, Global Consumer
Acquisition LLC, will deposit an aggregate of $1,826,300 (the "Second Extension
Payment") into the Trust Account prior to September 11, 2022, on behalf of the
Company. The sponsor will receive a non-interest bearing, unsecured promissory
note equal to the Second Extension Payment that will not be repaid in the event
that the Company is unable to close a business combination unless there are
funds available outside its trust account to do so. Such note would either be
paid upon consummation of the Company's initial business combination, or, at the
relevant insider's discretion, converted upon consummation of the Company's
business combination into additional private units at a price of $10.00 per
unit.
The Company issued the release distributed herewith on September 7, 2022. The
materials attached as Exhibit 99.1 are incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Description
99.1 Press Release dated September 7, 2022
104 Cover Page Interactive Data File - the cover page XBRL tags are
embedded within the Inline XBRL document.
© Edgar Online, source Glimpses