Consumer SPAC Global Consumer Acquisition files for a $200 million IPO
Global Consumer Acquisition, a blank check company targeting the consumer products and services sectors, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The Marietta, GA-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Global Consumer Acquisition would command a market value of $254 million.
The company is led by CEO, CFO, and Co-Chairman Rohan Ajila, the Managing Partner of private equity firm FIDES Business Partner, and Co-Chairman Gautham Pai, the Managing Director and Executive Chairman of The Manipal Group. The company plans to leverage its management team's experience and target the consumer products and services sectors, focusing on businesses with market caps between $500 million and $1 billion.
Global Consumer Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol GACQU. Kingswood Capital Markets is the sole bookrunner on the deal.
The article Consumer SPAC Global Consumer Acquisition files for a $200 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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