Ankündigung • Apr 02
Global Gas Corporation announced delayed annual 10-K filing On 04/01/2026, Global Gas Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. Ankündigung • Jun 25
Global Gas Corporation(NasdaqCM:HGAS) dropped from NASDAQ Composite Index Global Gas Corporation has been dropped from Nasdaq Composite Index. New Risk • Jun 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 48% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Negative equity (-US$735k). Revenue is less than US$1m. Market cap is less than US$10m (US$9.67m market cap). Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (48% increase in shares outstanding). New Risk • Apr 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 48% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Negative equity (-US$735k). Revenue is less than US$1m. Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (48% increase in shares outstanding). Market cap is less than US$100m (US$10.9m market cap). New Risk • Mar 17
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$8.47m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (US$8.47m market cap). Minor Risk Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). New Risk • Mar 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 77% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Shareholders have been substantially diluted in the past year (77% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Market cap is less than US$100m (US$19.5m market cap). New Risk • Jan 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 77% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Shareholders have been substantially diluted in the past year (77% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Market cap is less than US$100m (US$31.1m market cap). Ankündigung • Jan 04
Global Gas Corporation announced that it has received $4.85 million in funding from Dune Acquisition Holdings LLC Global Gas Corporation announced a private placement of 4,850,000 pre-paid common share warrants at a price of $1 per warrant for the gross proceeds of $4,850,000 on January 2, 2024. Each warrant is exercisable for one whole share of investor's Class A common stock at a price of $11.50 per share. The transaction included participation from new investor Dune Acquisition Holdings LLC. The Private Placement warrants may not, subject to certain limited exceptions, be transferred, assigned or sold until 30 days after the completion of the Business Combination. The warrants are subject to the transfer restrictions set forth in the lockup agreement. Ankündigung • Dec 22
Global Hydrogen Energy LLC completed the acquisition of Dune Acquisition Corporation (NasdaqCM:DUNE) from Dune Acquisition Holdings LLC and others in a reverse merger transaction. Global Hydrogen Energy LLC executed the letter of intent to acquire Dune Acquisition Corporation (NasdaqCM:DUNE) from Dune Acquisition Holdings LLC and others in a reverse merger transaction on March 16, 2023. Global Hydrogen Energy LLC entered into a definitive agreement to acquire Dune Acquisition Corporation from Dune Acquisition Holdings LLC and others for $57.5 million in a reverse merger transaction on May 14, 2023. Under the terms of the transaction, all Global Hydrogen unitholders will receive Class B common stock of Dune to the product of the number of Global Hydrogen units held by such seller and (y) the exchange ratio (the “Company Exchange Ratio”) determined by dividing (A) the quotient of Global Hydrogen equity value of $57.5 million divided by the number of Global Hydrogen units issued and outstanding immediately prior to the closing by (B) $10 per share and (ii) a number of Holdings Common Units equal to the number of Dune Class B Common Stock to be received by such Seller pursuant to clause (i) hereof (clauses (i) and (ii) collectively, the “Aggregate Consideration”). All existing Global Hydrogen unitholders will roll 100% of their equity into the Combined Company. The transaction would result in Global Hydrogen becoming a publicly listed company. The combined company will be called Global Gas Corporation upon the closing of the business combination and its common stock is expected to be listed on Nasdaq under the new ticker symbol “HGAS”. Global Hydrogen will pay a termination fee of $7.5 million to Dune, in case Global Hydrogen terminates the transaction. Following the Closing, the Board will consist of at least five (5) directors, with the Board to be divided into three (3) classes. The directors shall initially include: (i) W. Nance as a Class I Director; (ii) two (2) independent director nominees (who shall be Class II directors) to be mutually designated by Dune and Global Hydrogen prior to the closing; and (iii) two (2) independent director nominees (who shall be Class III directors) to be designated by Dune prior to the Closing. Parties announced the designation of Carter Glatt as Chairman Nominee of the Board of Directors upon consummation of the proposed business combination with Global Hydrogen. On August 22, 2023, Dune, Holdings, Global Hydrogen and the Sellers entered into the First Amendment to Unit Purchase Agreement (the “Amendment”), pursuant to which the aggregate share consideration to be paid to the Sellers (as set forth in the “Company Equity Value” definition in the Purchase Agreement) was reduced from $57.5 million to $48 million. On November 24, 2023, Dune, Global Hydrogen and the Sellers entered into the Second Amendment to Unit Purchase Agreement, pursuant to which, the aggregate share consideration to be paid to the Sellers was reduced from $48 million to $43 million.The transaction is subject to approval by Dune’s stockholders, Dune Common Stock shall be listed or have been approved for listing on the Nasdaq Capital Market and customary closing conditions. The Board of Directors of Dune and the managers and unitholders of Global Hydrogen have each unanimously approved the proposed business combination. Dune Acquisition Holdings LLC entered into sponsor support agreement under which it has agreed to vote in favor of the transaction. On November 30, 2023, Dune Acquisition Corporation adjourned the special meeting of its stockholders until December 1, 2023. As of December 4, 2023, Dune Acquisition stockholders approved the transaction. The transaction is expected to close in the second half of 2023.Jason D. Osborn of Winston & Strawn LLP and Michael P. Heinz of Sidley Austin LLP are serving as legal advisors to Dune. Timothy P. Selby and Matthew Mamak of Alston & Bird LLP is serving as legal advisors to Global Hydrogen. Morrow & Co., LLC acted as information agent with a service fee of $15,000 to Dune. Newbridge Securities Corporation acted as fairness opinion provider with a service fee of $30,000 and financial advisor with a service fee of $45,000 to Dune. Continental Stock Transfer & Trust Company is the transfer agent for Dune.Global Hydrogen Energy LLC completed the acquisition of Dune Acquisition Corporation (NasdaqCM:DUNE) from Dune Acquisition Holdings LLC and others in a reverse merger transaction on December 21, 2023. The combined company is named Global Gas Corporation (“Global Gas”) and its Class A common shares and warrants are expected to commence trading on the Nasdaq Capital Market (“Nasdaq”) under the new ticker symbols “HGAS” and “HGASW,” respectively, on or about December 22, 2023. Ankündigung • May 16
Global Hydrogen Energy LLC entered into a definitive agreement to acquire Dune Acquisition Corporation (NasdaqCM:DUNE) from Dune Acquisition Holdings LLC and others for $57.5 million in a reverse merger transaction. Global Hydrogen Energy LLC entered into a definitive agreement to acquire Dune Acquisition Corporation (NasdaqCM:DUNE) from Dune Acquisition Holdings LLC and others for $57.5 million in a reverse merger transaction on May 14, 2023. Under the terms of the transaction, all Global Hydrogen unitholders will receive Class B common stock of Dune to the product of the number of Global Hydrogen units held by such seller and (y) the exchange ratio (the “Company Exchange Ratio”) determined by dividing (A) the quotient of Global Hydrogen equity value of $57.5 million divided by the number of Global Hydrogen units issued and outstanding immediately prior to the closing by (B) $10 per share and (ii) a number of Holdings Common Units equal to the number of Dune Class B Common Stock to be received by such Seller pursuant to clause (i) hereof (clauses (i) and (ii) collectively, the “Aggregate Consideration”). All existing Global Hydrogen unitholders will roll 100% of their equity into the Combined Company. The transaction would result in Global Hydrogen becoming a publicly listed company. The combined company will be called Global Gas Corporation upon the closing of the business combination and its common stock is expected to be listed on Nasdaq under the new ticker symbol “HGAS”. Global Hydrogen will pay a termination fee of $7.5 million to Dune, in case Global Hydrogen terminates the transaction.Following the Closing, the Board will consist of at least five (5) directors, with the Board to be divided into three (3) classes. The directors shall initially include: (i) W. Nance as a Class I Director; (ii) two (2) independent director nominees (who shall be Class II directors) to be mutually designated by Dune and Global Hydrogen prior to the closing; and (iii) two (2) independent director nominees (who shall be Class III directors) to be designated by Dune prior to the Closing. The transaction is subject to approval by Dune’s stockholders, Dune Common Stock shall be listed or have been approved for listing on the Nasdaq Capital Market and customary closing conditions. The Board of Directors of Dune and the managers and unitholders of Global Hydrogen have each unanimously approved the proposed business combination. Dune Acquisition Holdings LLC entered into sponsor support agreement under which it has agreed to vote in favor of the transaction. The transaction is expected to close in the second half of 2023. Jason D. Osborn of Winston & Strawn LLP and Michael P. Heinz of Sidley Austin LLP are serving as legal advisors to Dune. Matthew Mamak of Alston & Bird LLP is serving as legal advisor to Global Hydrogen. 