Global Consumer Acquisition priced its IPO of 17 million units at $10 each. The offering was for 3 million fewer units than the new SPAC initially registered in February.
Units begin trading today on the Nasdaq under GACQU. Each consists of one share of Class A common stock and one-half of one redeemable warrant. Whole warrants are redeemable at $11.50 per share.
Kingswood Capital Markets is sole bookrunner for the offering. The underwriter has a 45-day option to purchase up to an additional 2.55 million shares.
Once the securities comprising the units begin separate trading, shares and warrants are expected to list under GACQ, and GACQW, respectively.
The SPAC will focus on the consumer products and services sectors. Read more.
