---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-22-079617"
form_type: "8-K"
ticker: "NPWR"
cik: "0001845437"
company_name: "NET Power Inc."
filed_at: "2022-12-14T23:59:59+00:00"
generated_at: "2026-06-21T04:55:17.001489+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Rice Acquisition Corp. II (SPAC) to merge with NET Power; PIPE of $225.45M secured

## Summary
- Business Combination Agreement with NET Power; NET Power holders receive ~135.7M Class A units and Class B shares.
- PIPE Financing of $225.45M from 22.545M shares at $10/share; proceeds to fund combined company.
- Minimum cash condition: at least $200M available from trust and PIPE at closing.
- Sponsor forfeits 1M RONI interests; additional vesting/lock-ups tied to stock price milestones ($12, $14, $16).
- Stockholders Agreement grants board designation rights to OLCV, Sponsor, 8 Rivers, and Constellation.

## SEC filing metadata
- accession: 0001213900-22-079617
- form_type: 8-K
- ticker: NPWR
- cik: 0001845437
- company_name: NET Power Inc.
- filed_at: 2022-12-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1845437/000121390022079617/0001213900-22-079617-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1845437/000121390022079617/ea169995-8k425_riceacq2.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-22-079617
- JSON: https://secwatch.observer/filing/0001213900-22-079617.json
- Plain text: https://secwatch.observer/filing/0001213900-22-079617.txt

## Key facts
- Material Agreements
  NET Power Inc. entered into Business Combination Agreement with NET Power, LLC (effective 2022-12-13).
  - Action: entry
  - Agreement: merger
  - Counterparty: NET Power, LLC
  - Effective: 2022-12-13
  source text: On December 13, 2022, Rice Acquisition Corp. II, a Cayman Islands exempted company ("RONI"), entered into a Business Combination Agreement (as may be amended, supplemented or otherwise modified from time to time, the "Business Combination Agreement" and the transactions contemplated thereby, collectively, the "Business Combination"), by and among RONI, Rice Acquisition Holdings II LLC, a Cayman Islands exempted company and majority-owned and controlled operating subsidiary of RONI ("RONI Opco"), Topo Buyer Co, LLC, a Delaware limited liability company and a direct, wholly-owned subsidiary of RONI Opco ("RONI Buyer"), Topo Merger Sub, LLC, a Delaware limited liability company and a direct, wholly-owned subsidiary of RONI Buyer ("Merger Sub"), and NET Power, LLC, a Delaware limited liability company ("NET Power").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1845437/000121390022079617/0001213900-22-079617-index.htm

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