Global Gas amends Meteora forward purchase deal, gains option to request up to $5M additional prepayment

Global Gas Corp

Company may request up to $5M in Prepayment Shortfall via 20 separate $250K requests, subject to equity conditions.
Seller (Meteora) can sell Recycled Shares immediately after Trade Date unless proceeds equal 110% of Prepayment Shortfall.
Share Consideration holding period shortened to earlier of 110% recovery on first Additional Shortfall Request or 3-month anniversary of Business Combination.
Amendment executed February 8, 2024; amends Forward Purchase Agreement dated December 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Global Gas Corp amended Forward Purchase Agreement with Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP, and Meteora Strategic Capital, LLC valued at $5 million (effective 2024-02-05).

Action: amendment
Agreement: equity purchase
Counterparty: Meteora Capital Partners, LP, Meteora Select Trading Opportunities Master, LP, and Meteora Strategic Capital, LLC
Value: $5 million
Effective: 2024-02-05

Exact text from the filing

On February 5, 2024, the Company and the Seller entered into an amendment to the Forward Purchase Agreement (the “Amendment”).

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197 material agreements filed in the last 30 days. Browse all material agreements →

Global Gas Corp filing history →

Source: SEC EDGAR

accession 0001213900-24-011797

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