On December 21, 2023, Dune Acquisition Holdings LLC, a Delaware-based entity, filed a Schedule 13D with the United States Securities and Exchange Commission (SEC), indicating a significant acquisition of shares in Global Gas Corporation. The filing reveals that Dune Acquisition Holdings LLC, along with Carter Glatt, collectively referred to as the Reporting Persons, now beneficially own approximately 89.1% of Global Gas's Class A Common Stock. This ownership includes 4,312,500 shares held directly and the right to acquire an additional 4,850,000 shares through Private Placement Warrants within 60 days. The substantial stake was acquired following a business combination between Dune and Global Hydrogen Energy LLC, which was completed on the same date as the filing. The transaction involved a series of complex exchanges and agreements, including...Show More

On December 21, 2023, Dune Acquisition Holdings LLC, a Delaware-based entity, filed a Schedule 13D with the United States Securities and Exchange Commission (SEC), indicating a significant acquisition of shares in Global Gas Corporation. The filing reveals that Dune Acquisition Holdings LLC, along with Carter Glatt, collectively referred to as the Reporting Persons, now beneficially own approximately 89.1% of Global Gas's Class A Common Stock. This ownership includes 4,312,500 shares held directly and the right to acquire an additional 4,850,000 shares through Private Placement Warrants within 60 days. The substantial stake was acquired following a business combination between Dune and Global Hydrogen Energy LLC, which was completed on the same date as the filing. The transaction involved a series of complex exchanges and agreements, including the conversion of Class B common stock and the purchase of Private Placement Warrants. Carter Glatt, who serves as the Chairman of the Board, may have significant influence over the corporate activities of Global Gas Corporation. The Reporting Persons have agreed to certain transfer restrictions on their shares, as outlined in a Lockup Agreement effective from the closing date of the business combination. The filing also details various agreements related to the business combination, including indemnification agreements, a nomination agreement for board members, and registration rights agreements.