Rice Acquisition Corp II raises additional $15M PIPE for NET Power deal

NET Power Inc.

Entered into subscription agreements on May 25, 2023 to issue 1.5M shares of Class A common stock for $15M.
New PIPE investors join existing commitments totaling ~$540M from prior subscriptions.
Shares issued unregistered under Section 4(a)(2) and Regulation D.
Financing is contingent on closing of the proposed business combination with NET Power.

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

NET Power Inc. entered into May 25, 2023 Subscription Agreements with May 25, 2023 PIPE Investors valued at $15,000,000 (effective 2023-05-25).

Action: entry
Agreement: equity purchase
Counterparty: May 25, 2023 PIPE Investors
Value: $15,000,000
Effective: 2023-05-25

Exact text from the filing

On May 25, 2023, RONI entered into subscription agreements (the “May 25, 2023 Subscription Agreements”) with certain investors (the “May 25, 2023 PIPE Investors”) pursuant to which, among other things, the May 25, 2023 PIPE Investors agreed to subscribe for and purchase, and RONI agreed to issue and sell to the May 25, 2023 PIPE Investors, an aggregate of 1,500,000 shares of Class A Common Stock for an aggregate purchase price of $15.0 million, on the terms and subject to the conditions set forth therein.

View on SEC.gov

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

NET Power Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-043654

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This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.