Global Consumer Acquisition Corp. (NasdaqCM:GACQ) entered into a stock purchase agreement to acquire GP Global Limited from TGP Trading FZCO for an enterprise value of $270 million on December 13, 2021. The purchase price will be payable in form of the issuance of common shares of Global Consumer (valued at $10 per share) based on an enterprise value of $270 million, which is subject to a downward adjustment, that in any event shall not be less than $220 million. In a related transaction, Global Consumer Acquisition Corp. entered into a stock purchase agreement to acquire Luminex Home Décor & Fragrance Holding Corporation on December 13, 2021. Both transactions have a combined enterprise value of $507.1 million. For the period ended March 31, 2022, GP Global reported total assets of $120 million. As part of the transaction, GP Global will become wholly-owned subsidiary of GACQ. On June 6, 2022, Global Consumer Acquisition Corp. notified the trustee of the Company trust account that it was extending the time available to the Company to consummate its initial business combination from June 11, 2022 to September 11, 2022 . The Extension provides the Company with additional time to complete its proposed business combination with GP Global Limited. In connection with the Extension, Global consumer sponsor, Global Consumer Acquisition LLC, will deposit an aggregate of $1.8 million into the Trust Account prior to June 11, 2022 In connection with the closing of both transactions, GACQ will change its name to Ascense Brands Inc. and will trade on NASDAQ under the new ticker symbol ‘SCNT'. The transaction has been unanimously approved by the Board of Directors of GACQ, GP Global and is still subject to approval of HSR Act, GACQ stockholder, regulatory approval, consummation of the Luminex stock acquisition and other customary closing conditions. As of April 8, 2022, Global Consumer Acquisition Corp. cordially invited share holders to attend the special meeting of the stockholders of Global Consumer Acquisition Corp. As of November 10, 2022 Global Consumer Acquisition Corp's shareholders approved the acquisition of GP Global Limited.The transaction is expected to close in early 2022. The transaction is expected to provide Ascense Brands with approximately $117.5 million in cash proceeds to its balance sheet. BDO USA, LLP will provide fairness opinion to board of Global Consumer. Sonjui Kumar of KPPB Law acted as legal adviser of GP Global and TGP Trading and Mitchell S. Nussbaum of Loeb & Loeb LLP acted as legal adviser of Global Consumer.

Global Consumer Acquisition Corp. (NasdaqCM:GACQ) cancelled the acquisition of GP Global Limited from TGP Trading FZCO on December 6, 2022. The Global Consumer has failed to secure financing and therefore will not be able to consummate the merger before December 11, 2022. Accordingly, the Company is working with the trustee to effect the dissolution and liquidation in accordance with the terms of its charter and as set forth in the prospectus issued in connection with the Company's initial public offering.