---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-089979"
form_type: "8-K"
ticker: "HGAS"
cik: "0001817232"
company_name: "Global Gas Corp"
filed_at: "2023-11-27T23:59:59+00:00"
generated_at: "2026-06-07T21:36:57.034063+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Dune Acquisition cuts deal consideration to $43M in amended Global Hydrogen acquisition

## Summary
- Share consideration for Global Hydrogen reduced from $48M to $43M under Second Amendment dated Nov 24, 2023.
- Long-term incentive plan shares increased from 900,000 to 1,400,000, with 500,000 reserved for strategic partnerships.
- This follows prior reduction from $57.5M to $48M in August 2023, bringing total reduction of $14.5M.
- Business combination structure unchanged; SPAC aims to close after stockholder approval.

## SEC filing metadata
- accession: 0001213900-23-089979
- form_type: 8-K
- ticker: HGAS
- cik: 0001817232
- company_name: Global Gas Corp
- filed_at: 2023-11-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1817232/000121390023089979/0001213900-23-089979-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1817232/000121390023089979/ea189044-8k_duneacq.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-089979
- JSON: https://secwatch.observer/filing/0001213900-23-089979.json
- Plain text: https://secwatch.observer/filing/0001213900-23-089979.txt

## Key facts
- Material Agreements
  Global Gas Corp amended Second Amendment to Unit Purchase Agreement with Dune Acquisition Corporation, Global Gas Holdings LLC, Global Hydrogen Energy LLC, and the Sellers valued at reduced from $48.0 million to $43.0 million (effective 2023-11-24).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: Dune Acquisition Corporation, Global Gas Holdings LLC, Global Hydrogen Energy LLC, and the Sellers
  - Value: reduced from $48.0 million to $43.0 million
  - Effective: 2023-11-24
  source text: On November 24, 2023, Dune, Holdings, Global Hydrogen and the Sellers entered into the Second Amendment to Unit Purchase Agreement (the "Second Amendment"), pursuant to which (i) the aggregate share consideration to be paid to the Sellers (as set forth in the "Company Equity Value" definition in the Purchase Agreement, as amended by the First Amendment) was reduced from $48.0 million to $43.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817232/000121390023089979/0001213900-23-089979-index.htm
- Material Agreements
  Global Gas Corp amended First Amendment to Unit Purchase Agreement with Dune Acquisition Corporation, Global Gas Holdings LLC, Global Hydrogen Energy LLC, and the Sellers valued at reduced from $57.5 million to $48.0 million (effective 2023-08-22).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: Dune Acquisition Corporation, Global Gas Holdings LLC, Global Hydrogen Energy LLC, and the Sellers
  - Value: reduced from $57.5 million to $48.0 million
  - Effective: 2023-08-22
  source text: Dune, Holdings, Global Hydrogen and the Sellers entered into the First Amendment to Unit Purchase Agreement (the "First Amendment"), dated August 22, 2023, 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 $48.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817232/000121390023089979/0001213900-23-089979-index.htm
- Material Agreements
  Global Gas Corp entered into Unit Purchase Agreement with Dune Acquisition Corporation, Global Gas Holdings LLC, Global Hydrogen Energy LLC, William Bennett Nance Jr., Sergio Martinez and Barbara Guay Martinez (effective 2023-05-14).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Dune Acquisition Corporation, Global Gas Holdings LLC, Global Hydrogen Energy LLC, William Bennett Nance Jr., Sergio Martinez and Barbara Guay Martinez
  - Effective: 2023-05-14
  source text: Dune Acquisition Corporation, a Delaware corporation ("Dune"), entered into a Unit Purchase Agreement (the "Purchase Agreement"), dated May 14, 2023, by and among Dune, 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., Sergio Martinez and Barbara Guay Martinez (together with Mr. Nance and Mr. Martinez, the "Sellers")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817232/000121390023089979/0001213900-23-089979-index.htm

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