Dune Acquisition in a regulatory filing said it lowered the consideration to be paid to merger partner Global Hydrogen to $43 million from $48 million. This follows a reduction in the deal size in August from the original $57.5 million consideration.
The deal was announced in May at a pro forma combined enterprise value of $112 million.
Additionally, the number of shares of common stock reserved and available for delivery under the Global Gas Corporation 2023 Long Term Incentive Plan was increased to 1,400,000 from 900,000, of which up to 500,000 shares of common stock may be used for joint venture, consulting or other strategic business partnerships or relationships.
Global Hydrogen is a supplier of industrial gas.
If approved, the combined company would be called Global Gas Corporation and shares are expected to list on the Nasdaq under new ticker symbol HGAS.
There is no minimum cash condition to close. Read more.
