ARC Capital advised the sponsors of the SPAC in their IPO
Global Consumer Acquisition Corporation announced today that it closed its initial public offering of 17,000,000 units at $10.00 per unit. The units are listed on the Nasdaq Capital Market and began trading on 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,” respectively.
Global Consumer Acquisition Corporation 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. Global Consumer Acquisition Corporation is led by Co-Chairman and Chief Executive Officer, Rohan Ajila and Co-Chairman, Gautham Pai.
ARC Group, the M&A Worldwide Partner in China, acted as financial advisor for the offering.