Item 8.01. Other Events
As previously disclosed on a Current Report on Form 8-K dated June 14, 2021, on
June 11, 2021, Global Consumer Acquisition Corp. (the "Company") consummated the
IPO of 17,000,000 units (the "Units"). Each Unit consists of one share of common
stock, $0.0001 par value ("Common Stock") and one half of one redeemable warrant
("Warrants"), with each whole warrant entitles the holder thereof to purchase
one share of the Company's common stock at a price of $11.50 per share, subject
to certain adjustment as described in the registrant's final prospectus filed
with the SEC on June 10, 2021 (the "Prospectus"). The Units were sold at an
offering price of $10.00 per Unit, generating gross proceeds of $170,000,000.
The Company granted the underwriters a 45-day option to purchase up to 2,550,000
additional Units to cover over-allotments, if any.
Simultaneously with the closing of the IPO, the Company consummated the private
placement ("Private Placement") with Global Consumer Acquisition LLC of 431,510
units (the "Private Units"), generating total proceeds of $4,315,100. The
Private Units are identical to the Units sold as part of the public Units in
this offering. Additionally, such initial purchasers agreed not to transfer,
assign or sell any of the Private Units or underlying securities (except in
limited circumstances, as described in the Prospectus) until the completion of
the Company's initial business combination. Such initial purchasers were granted
certain demand and piggyback registration rights in connection with the purchase
of the Private Units. The Private Units were issued pursuant to Section 4(a)(2)
of the Securities Act of 1933, as amended, as the transactions did not involve a
public offering.
As of June 11, 2021, a total of $170,850,000 of the net proceeds from the IPO
and the private placement were placed in a trust account established for the
benefit of the Company's public shareholders.
An audited balance sheet as of June 11, 2021 reflecting receipt of the proceeds
upon consummation of the IPO and the private placement is included with this
report as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Description
99.1 Balance Sheet dated as of June 11, 2021
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GLOBAL CONSUMER ACQUISITION CORP. 
