Summary by Moomoo AI
On December 5, 2024, Global Gas Corporation amended its Related Party Notes with Dune Acquisition Holdings LLC and Carter Glatt. The amendments fixed principal amounts, extended maturity to March 31, 2025, added 5% annual interest, and included a conversion feature at $0.15 per share. No additional consideration was paid for these amendments.As a result, Dune Acquisition Holdings LLC's beneficial ownership increased to 10,295,833 shares (82.6% of outstanding Class A Common Stock), including convertible notes and warrants. Carter Glatt's beneficial ownership rose to 11,188,833 shares (85.1%), including direct holdings, convertible notes, and warrants. Additionally, Glatt received 200,000 fully-vested shares for services provided.The beneficial ownership percentages are subject to change as the notes accrue interest, which is also convertible to shares. The amendments aim to provide flexibility in the company's capital structure and align the interests of key stakeholders with those of the company.
