One day before he is set to drop out officially of the GOP presidential race, former House Speaker Newt Gingrich released a video thanking his supporters.

"I want to take this opportunity to give you an insider, advance notice that on Wednesday, I'll be officially suspending the campaign as part of a press event," he said, confirming press accounts that reported May 2 would be his official pull-out date. "I wanted you to know first, because your help was vital. We had nearly 180,000 people who donated to the campaign, we had thousands more who worked as volunteers, we had 2.5 million voters -- all coming together at the grassroots level to try to fight for a better American future."

According to CNN, Gingrich is expected to give his support to Mitt Romney on Wednesday.

"I want you to know that we're going to continue out there on the road -- both Callista and I will be talking, campaigning, making speeches, doing everything we can to help defeat Barack Obama," he added in Tuesday's video. "I hope you'll join us in this historic effort, because this is still the most important election in our lifetime."

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