Global Consumer Acquisition said its shareholders voted overwhelmingly in favor of combining with GP Global and Luminex Home Decor & Fragrance.
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. The 8-K filing disclosing the vote results did not state when the deal might close.
The SPAC said 18,133,785 shares were redeemed ahead of the vote, or about 99.3% of shares outstanding. Global Consumer said it would report any redemption reversals.
As announced in December, the transaction was expected to provide Ascense Brands with approximately $117.5 million in cash proceeds to its balance sheet — although that sum assumed no redemptions. Read more.
