GACQ SEC filings, in plain English
Everything Global Consumer Acquisition Corp has filed with the SEC that we hold — 40 filings, newest first, 1 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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- What changed vs 2022-08-15trust $185.4M → $187.8M +1%deadline 2022-09-11 → 2022-12-11
trust account, combination deadline, going-concern doubt +22 moved · 3 with no prior record of ours
- Trust account
- $185.4M$187.8M
- Combination deadline
- 2022-09-112022-12-11
- Going-concern doubt
- stated · unchanged
- Mandate language
- the Company intends to focus on businesses in the consumer p… · unchanged
- Redeemable shares
- 18.3M · unchanged
SpacBrain reads this as $2,398,102 was added to the trust between the two filings.
The clause “Current Assets 23,804 337,440 Cash and Marketable Securities held in Trust Account 187,837,498 183,570,432 Total Assets $ 187,861,302 $ 183,907,872 LIABILITIES AND STOCKHOLDERS’ DIFICIT ”…
SpacBrain reads this as 91 days later than the previous record.
The clause “Business Combination by then. In the event that we are unable to consummate the Business Combination before December 11, 2022 we anticipate identifying and accessing additional capital resources in order to extend the Business Combination”…
The clause …“such additional capital will ultimately be available. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year 7 Table of Contents after the date that the”…
The clause …“100,000,000 shares authorized; 5,019,363 issued and outstanding (excluding 18,263,000 shares subject to possible redemption) at September 30, 2022 and December 31, 2021, respectively 502 502 Additional paid-in capital — —”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: DEFM14A dated October 7, 2022 and mailed on or about October 11: Global Consumer Acquisition Corp.'s definitive proxy for the acquisition of CLP Luminex Holdings, LLC under the Stock Purchase Agreement dated December 13, 2021, as amended June 24, August 21 and September 27, 2022. GACQ is renamed Ascense Brands Inc. The special meeting is virtual at 11:00 a.m. Eastern on November 10, 2022; the record date is October 4, 2022, when GACQ common stock last sold at $10.17. Trust held approximately $188.0 million at October 3, 2022, about $10.29 per share at liquidation. Why it matters: Two things gate this deal and neither is in GACQ's hands. The Current Charter Amendment Proposal needs 65% of the outstanding shares, and the filing says that if it fails and the PIPE Financing or an alternative cannot be obtained, redemptions could push net tangible assets below $5,000,001 and prevent closing. The insider stake then swings violently with redemptions: the same maximum of 13,129,363 combined-company shares is stated as 41.93% assuming no redemptions and 99.55% assuming maximum in one passage, and as 41.80% and 99.56% in another — two figures for one holding.
- What changed vs 2022-05-16trust $183.6M → $185.4M +1%deadline 2022-08-11 → 2022-09-11
trust account, combination deadline, going-concern doubt +22 moved · 3 with no prior record of ours
- Trust account
- $183.6M$185.4M
- Combination deadline
- 2022-08-112022-09-11
- Going-concern doubt
- stated · unchanged
- Mandate language
- the Company intends to focus on businesses in the consumer p… · unchanged
- Redeemable shares
- 18.3M · unchanged
SpacBrain reads this as $1,878,964 was added to the trust between the two filings.
The clause “Current Assets 188,052 337,440 Cash and Marketable Securities held in Trust Account 185,439,396 183,570,432 Total Assets $ 185,627,448 $ 183,907,872 LIABILITIES AND STOCKHOLDERS’ DIFICIT ”…
SpacBrain reads this as 31 days later than the previous record.
The clause …“11, 2022. The company extend an additional three months to consummate the Business Combination, if the Company anticipates that it may not be able to consummate the initial Business Combination before September 11, 2022. On June 9,”…
The clause …“such additional capital will ultimately be available. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the financial statements”…
The clause …“100,000,000 shares authorized; 5,019,363 issued and outstanding (excluding 18,263,000 shares subject to possible redemption) at June 30, 2022 and December 31, 2021, respectively 502 502 Additional paid-in capital — —”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.