Global Consumer Acquisition said it intends to extend its merger deadline from Sept. 11 to Dec. 11. This would be the second of up to two three-month extensions permitted under the SPAC’s governing documents.
In return for the extra time, the SPAC’s sponsor will deposit about $1.83 million into the trust account. That’s the same amount the sponsor deposited in June for an extension to September.
Global Consumer has a merger agreement with Luminex Home Décor & Fragrance Holding. The deal is valued at $507.1 million.
As announced in December 2021, the transaction is expected to provide Luminex with approximately $117.5 million in cash proceeds to its balance sheet — assuming no redemptions. The SPAC raised $170 million in a June 2021 IPO. Read more.
