Global Consumer Acquisition and merger partner Luminex Home Décor & Fragrance Holding in an 8-K said they have agreed to remove the $180 million minimum cash condition for their deal, provided the SPAC uses commercially reasonable efforts to secure additional financing.
Earlier this month the SPAC pulled the trigger on the last of its three-month extensions, with a new deal completion deadline of Dec. 11.
In return for the extra time, the SPAC’s sponsor pumped about $1.83 million into the trust account. That’s the same amount the sponsor deposited in June for an extension until this month.
The SPAC raised $170 million in a June 2021 IPO. Read more.
