Global Consumer Acquisition, a blank check company targeting the consumer products and services sectors, raised $170 million by offering 17 million units at $10. The company offered 3 million fewer units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Up to 12 anchor investors had each indicated on 9.9% of the units in the offering.
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 values between $500 million and $1 billion.
Global Consumer Acquisition plans to list on the Nasdaq under the symbol GACQU. Kingswood Capital Markets acted as a lead manager on the deal.
