Global Consumer Acquisition Corp. announced a private placement and entered into agreement with Global Consumer Acquisition LLC for issuing unsecured promissory note for gross proceeds of up to $1,500,000 on January 26, 2022. The company will raise the funding in three traches of not less than $50,000 each.

The company agrees to pay interest on the unpaid principal amount outstanding in accordance with the terms and conditions herein. The unpaid principal amount outstanding will bear simple interest at the rate of 8%per annum. Interest shall accrue daily in arrears and shall be calculated based on actual days elapsed and a 365-day year.

All accrued and unpaid interest on the Note shall be due and payable on the maturity date. On the maturity date, the company shall convert the outstanding principal balance, plus accrued but unpaid interest outstanding under the Note into units at a conversion price equal to $10 per unit, with each unit consisting of one share of the company's common stock and one half of one redeemable warrant entitling the holder thereof to purchase one share of the company's common stock at a price of $11.50 per share. No fees is paid as part of the transaction to the investor.

The securities issued under Securities Exchange Act of 1934.