Global Consumer Acquisition today filed a preliminary proxy outlining its proposed merger with with GP Global and Luminex Home Decor & Fragrance. A vote date has not yet been published.
If the SPAC’s shareholders approve the deal, GP Global and Luminex will become wholly-owned subsidiaries of the SPAC, which will change its name to Ascense Brands and trade on the Nasdaq under new ticker symbol SCNT.
As announced in December, the transaction is expected to provide Ascense Brands with approximately $117.5 million in cash proceeds to its balance sheet — assuming no redemptions. The SPAC raised $170 million in its IPO last June. Read more.
