Carter Glatt Discloses Significant Stake in Global Gas Corp

TL;DR

**Carter Glatt just revealed a big stake in Global Gas Corp, signaling potential changes ahead.**

AI Summary

Carter Glatt, through Dune Acquisition Holdings LLC, filed an initial SC 13D on January 2, 2024, disclosing his beneficial ownership of Class A Common Stock in Global Gas Corporation. This filing indicates a significant ownership stake, triggered by an event on December 21, 2023, and suggests Glatt may seek to influence the company's management or policies. For investors, this matters because a large, active shareholder like Glatt could push for changes that might impact the stock price, either positively or negatively, depending on the nature of his intentions.

Why It Matters

A major shareholder like Carter Glatt taking a significant position could signal upcoming strategic changes or activist involvement, potentially affecting Global Gas Corp's future direction and stock performance.

Risk Assessment

Risk Level: medium — The filing of an initial SC 13D indicates a significant ownership stake and potential for activist involvement, which can introduce both opportunities and risks for existing shareholders.

Analyst Insight

A smart investor would closely monitor future filings and news from Global Gas Corp and Carter Glatt to understand his intentions and potential impact on the company's strategy and valuation. Consider the potential for both positive changes from activist involvement and the risks associated with uncertainty.

Key Players & Entities

• Carter Glatt (person) — beneficial owner and contact person for Dune Acquisition Holdings LLC
• Global Gas Corp (company) — the issuer of the securities
• Dune Acquisition Holdings LLC (company) — the entity through which Carter Glatt is filing
• December 21, 2023 (date) — date of event requiring the filing
• January 2, 2024 (date) — date the SC 13D was filed
• Class A Common Stock (other) — the type of securities owned
• $0.0001 (dollar_amount) — par value per share of Class A Common Stock

Forward-Looking Statements

• Carter Glatt will seek to engage with Global Gas Corp's management or board to discuss strategic alternatives. (Carter Glatt) — medium confidence, target: Q2 2024
• Global Gas Corp's stock price will experience increased volatility as the market reacts to Glatt's disclosed stake. (Global Gas Corp) — high confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.0001 — suer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securiti
• $25,000 — der Shares"), for an aggregate price of $25,000. On December 17, 2020, pursuant to the
• $12.00 — Class A Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits
• $1.00 — ate Placement Warrants"), at a price of $1.00 per Private Placement Warrant, or $4,85
• $4,850,000 — $1.00 per Private Placement Warrant, or $4,850,000 in the aggregate, in a private placemen
• $11.50 — Dune Class A common stock at a price of $11.50 per share. The Private Placement Warran
• $43,000,000 — ermined by dividing (A) the quotient of $43,000,000 divided by the number of Global Hydroge
• $10.00 — ing immediately prior to Closing by (B) $10.00 per share), and (iii) Dune changed its
• $300,000 — m time to time of up to an aggregate of $300,000 for working capital purposes and to pay
• $170,000 — of the Closing Date, Dune had borrowed $170,000 thereunder for working capital purposes
• $103,950 — sing Date, Global Hydrogen had borrowed $103,950 thereunder for working capital purposes

Filing Documents

• ef20017792_sc13d.htm (SC 13D) — 123KB
• 0001140361-24-000215.txt ( ) — 125KB

From the Filing

SC 13D 1 ef20017792_sc13d.htm SC 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. )* Global Gas Corporation (Name of Issuer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securities) 37892P107 (CUSIP Number) Carter Glatt c/o Dune Acquisition Holdings LLC 700 S. Rosemary Avenue, Suite 204 West Palm Beach, Florida 33401 (917) 742-1904 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 21, 2023 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No: 37892P107 SCHEDULE 13D Page 2 of 11 Pages 1 NAMES OF REPORTING PERSONS Dune Acquisition Holdings LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 9,162,500 (1) 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 9,162,500 (1) 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,162,500 (1) 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 89.1% (2) 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO (1) This amount includes 4,312,500 shares of Class A Common Stock (as defined herein) held directly by Dune Acquisition Holdings LLC and 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 (as defined herein) held directly by Dune Acquisition Holdings LLC. (2) This percentage is calculated based on the sum of (i) 5,428,256 shares of Class A Common Stock outstanding immediately after the Closing (as defined herein) on December 21, 2023, as reported in the Issuer's current report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on December 28, 2023, and (ii) 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 Dune Acquisition Holdings LLC, which amount has been added to the shares of Class A Common Stock outstanding in accordance with Rule 13d-3(d)(1)(i) under the Act. CUSIP No: 37892P107 SCHEDULE 13D Page 3 of 11 Pages 1 NAMES OF REPORTING PERSONS Carter Glatt 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) AF 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E) 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 9,162,500 (1) 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 9,162,500 (1) 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,162,500 (1) 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 89.1% (2) 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN, HC (1) This amount includes 4,312,500 shares of Class A Common Stock held directly by Dune Acquisition Holdings LLC and 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 Dune Acquisition Holdings LLC. (2) This percentage is calculated based on the sum of (i) 5,428,256 shares of Class A Common Stock outstanding immediately after the Closing on December 21, 2023, as repo

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