---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-039278"
form_type: "8-K"
ticker: "HGAS"
cik: "0001817232"
company_name: "Global Gas Corp"
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:28:24.737010+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Dune Acquisition Corp. to merge with Global Hydrogen in $57.5M deal

## Summary
- Dune (SPAC) enters definitive agreement to acquire Global Hydrogen, a hydrogen/carbon recovery supplier, for ~$57.5M in stock.
- Post-close, company renamed Global Gas Corporation with Up-C structure; CEO W. Nance (a Dune director) recused from board vote.
- Sponsor and sellers locked up for 12 months on common stock, 30 days on warrants; termination fee of $7.5M in cash or equity.
- New board to have at least 5 directors; Sellers and Sponsor get nomination rights for Class I, II, III directors.

## SEC filing metadata
- accession: 0001213900-23-039278
- form_type: 8-K
- ticker: HGAS
- cik: 0001817232
- company_name: Global Gas Corp
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1817232/000121390023039278/0001213900-23-039278-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1817232/000121390023039278/ea178524-8k_duneacq.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-039278
- JSON: https://secwatch.observer/filing/0001213900-23-039278.json
- Plain text: https://secwatch.observer/filing/0001213900-23-039278.txt

## Key facts
- Material Agreements
  Global Gas Corp entered into Purchase Agreement with Dune Acquisition Corporation, Global Gas Holdings LLC, Global Hydrogen Energy LLC, William Bennett Nance, Jr., Sergio Martinez, Barbara Guay Martinez (effective 2023-05-14).
  - Action: entry
  - Agreement: merger
  - Counterparty: Dune Acquisition Corporation, Global Gas Holdings LLC, Global Hydrogen Energy LLC, William Bennett Nance, Jr., Sergio Martinez, Barbara Guay Martinez
  - Effective: 2023-05-14
  source text: May 14, 2023, Dune Acquisition Corporation, a Delaware corporation (“Dune”), entered into a Unit Purchase Agreement (the “Purchase Agreement”), by and among Global Gas Holdings LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of Dune (“Holdings”), Global Hydrogen Energy LLC, a Delaware limited liability company (“Global Hydrogen”), William Bennett Nance, Jr., an individual (“W. Nance”), Sergio Martinez, an individual (“S. Martinez”), and Barbara Guay Martinez, an individual (“B. Martinez” and, together with W. Nance and S. Martinez, the “Sellers”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817232/000121390023039278/0001213900-23-039278-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.