2023-05-15 17:18:43 ET
SPAC Dune Acquisition Corp. ( NASDAQ: DUNE ) has agreed to merge with sustainable industrial gas supplier Global Hydrogen Energy roughly four months after its planned merger with TradeZero was terminated.
The Global Hydrogen merger pegs the enterprise value of the combined company at $112M. The deal, which has no minimum cash condition, is expected to close during the second half of the year.
After the closing, the combined company will be known as Global Gas, with shares expected to trade on Nasdaq under the symbol HGAS, according to a company statement.
New York-based Global Hydrogen bills itself as a next-generation industrial gas supplier. The company specializes in industrial gasses produced from renewable waste feedstocks.
Dune had been slated to merge with trading platform TradeZero. The companies mutually terminated the deal and settled related litigation in early January.
Dune went public in December 2020, raising $173M.
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SPAC Dune to merge with cleantech Global Hydrogen Energy