MARIETTA, GA, Sept. 12, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Global Consumer Acquisition Corp. (NASDAQ: GACQU, GACQ, GACQW) (“GACQ” or the “Company”), a special purpose acquisition company, announced today that Global Consumer Acquisition LLC (the “Sponsor”), the Company’s initial public offering sponsor, has deposited into the Company’s trust account an aggregate of $1,826,300 (representing approximately $0.10 per share of GACQ’s common stock), in order to extend the period of time the Company has to complete a business combination for an additional three (3) months period, from September 11, 2022 to December 11, 2022. The Company issued a promissory note to Sponsor with a principal amount equal to the amount deposited on September 9, 2022. The promissory note bears no interest and can be repaid or converted into the Company’s units (with each unit consisting of one share of common stock and one half of one redeemable warrant) at the closing of a business combination by the Company, provided, however, that the Note will not be repaid in the event that the Company is unable to close a business combination unless there are funds available outside of the Company’s trust account to do so. The purpose of the extension is to provide time for the Company to complete its proposed business combination with GP Global Limited (“GP Global”) and Luminex Home Décor & Fragrance Holding Corporation (“Luminex”), each industry leaders in branded, licensed and private label solutions in the Air Care and Personal Care sectors.


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