Global Gas Corp: Ownership Update Filed

TL;DR

Global Gas Corp ownership filing updated by Carter Glatt/Dune Acquisition Holdings LLC. Watch for more.

AI Summary

On December 10, 2024, Carter Glatt, filing through Dune Acquisition Holdings LLC, amended their Schedule 13D for Global Gas Corporation. This amendment, designated as Amendment No. 1, indicates a change in the reporting of beneficial ownership for the Class A Common Stock of Global Gas Corporation. The filing does not disclose specific share counts or dollar amounts but signifies an update to their previous filing.

Why It Matters

This filing indicates a change in beneficial ownership for Global Gas Corporation, which could signal shifts in control or investment strategy by significant shareholders.

Risk Assessment

Risk Level: medium — Schedule 13D filings, especially amendments, can indicate significant changes in a company's ownership structure, potentially impacting stock price and corporate control.

Key Players & Entities

• Global Gas Corporation (company) — Subject Company
• Carter Glatt (person) — Filing Person
• Dune Acquisition Holdings LLC (company) — Filing Entity
• Dune Acquisition Corp (company) — Former Company Name

FAQ

Key Financial Figures

• $0.0001 — suer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $0.15 — Party Note into Class A Common Stock at $0.15 per share, representing the last sale p

Filing Documents

• ef20039848_sc13da.htm (SC 13D/A) — 88KB
• 0001140361-24-048946.txt ( ) — 90KB

of the Schedule 13D is hereby amended and supplemented as follows

Item 3 of the Schedule 13D is hereby amended and supplemented as follows: On December 5, 2024, the Issuer and each of the Sponsor and Mr. Glatt amended and restated each of their respective Related Party Notes to, (i) fix the principal amount of each Related Party Note (as opposed to such Related Party Notes being able to be drawn in varying amounts) at the amount outstanding as of September 30, 2024; (ii) change the maturity date of such Related Party Note to March 31, 2025, extendable by written consent of the holder; (iii) include interest of 5% per annum on the unpaid principal balance of each Related Party Note, payable in kind and not cash; and (iv) include a conversion feature whereby the holder may elect to convert the principal and accrued interest of such Related Party Note into Class A Common Stock at $0.15 per share, representing the last sale price of the Class A Common Stock on the date of the amended and restated Related Party Note (the "Related Party Note Amendments"). Accordingly, the number of shares of Class A Common Stock into which each Related Party Note can be converted is subject to change as interest accrues on the Related Party Note. The Sponsor and Mr. Glatt did not pay any additional consideration for the Related Party Note Amendments. The Related Party Notes remain subject to customary events of default, the occurrence of any of which would automatically trigger the unpaid principal and interest balance of the Related Party Notes and all other sums payable with regard to the applicable Related Party Note to become immediately due and payable. The foregoing descriptions of the Related Party Note Amendments do not purport to be complete and are qualified in their entirety by the full text of the each of the Related Party Note Amendments, a copy of each of which is filed as an exhibit to this Schedule 13D and is incorporated by reference herein. Also on December 5, 2024, Mr. Glatt was granted 200,000 fully-vested shares of Class A Commo

of the Schedule 13D is hereby amended and supplemented as follows

Item 4 of the Schedule 13D is hereby amended and supplemented as follows: The response to Item 3 of this Amendment No. 1 is incorporated by reference herein. Item 5. Interest in Securities of the Issuer Items 5(a)-(c) of the Schedule 13D are hereby amended and supplemented as follows: (a, b) As of the date hereof, the Sponsor may be deemed to beneficially own, in the aggregate, 10,295,833 shares of Class A Common Stock, which represents approximately 82.6% of the shares of Class A Common Stock outstanding. This amount includes: (i) 4,312,500 shares of Class A Common Stock held directly by the Sponsor; (ii) 1,133,333 shares of Class A Common Stock that the Reporting Persons have the right to acquire within 60 days upon conversion of the current principal amount of the Sponsor Note held directly by the Sponsor; and (iii) 4,850,000 shares of Class A Common Stock that the Reporting Persons have the right to acquire within 60 days upon exercise of 4,850,000 Private Placement Warrants held directly by the Sponsor. The Sponsor's beneficial ownership is subject to change as the Sponsor Note accrues interest in kind, which interest will also be convertible into shares of Common Stock at a conversion rate of $0.15 per share. As of the date hereof, Mr. Glatt may be deemed to beneficially own, in the aggregate, 11,188,833 shares of Class A Common Stock, which represents approximately 85.1% of the shares of Class A Common Stock outstanding. This amount includes: (i) 4,312,500 shares of Class A Common Stock held directly by the Sponsor; (ii) 200,000 shares of Class A Common Stock held directly by Mr. Glatt; (iii) 1,133,333 shares of Class A Common Stock that the Reporting Persons have the right to acquire within 60 days upon conversion of the current principal amount of the Sponsor Note held directly by the Sponsor; (iv) 693,000 shares of Class A Common Stock that Mr. Glatt has the right to acquire within 60 days upon conversion of the current principal amount of the Glatt

of the Schedule 13D is hereby amended and supplemented as follows

Item 6 of the Schedule 13D is hereby amended and supplemented as follows: The response to Item 3 of this Amendment No. 1 is incorporated by reference herein. Item 7. Material to be Filed as Exhibits

of the Schedule 13D is hereby amended and supplemented as follows

Item 7 of the Schedule 13D is hereby amended and supplemented as follows: Exhibit 11 Amended and Restated Sponsor Note, dated December 5, 2024, by and between the Issuer and the Sponsor (incorporated by reference to Exhibit 10.1 to the Issuer's current report on Form 8-K filed with the SEC on December 9, 2024). Exhibit 12 Amended and Restated Glatt Note, dated December 5, 2024, by and between the Issuer and Mr. Glatt (incorporated by reference to Exhibit 10.2 to the Issuer's current report on Form 8-K filed with the SEC on December 9, 2024). CUSIP No: 37892P107 SCHEDULE 13D/A Page 6 of 6 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. DUNE ACQUISITION HOLDINGS LLC By: /s/ Carter Glatt Name: Carter Glatt Title: Managing Member CARTER GLATT /s/ Carter Glatt December 10, 2024 Attention: Intentional misstatements or omissions of fact constitute federal violations (see 18 U.S.C. 1001).

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View this SC 13D/A filing on SEC EDGAR