secwatch.observer — SEC 8-K summary
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Issuer:     NET Power Inc. (NPWR)
CIK:        0001845437
Form:       8-K
Filed at:   2023-06-14T23:59:59+00:00
Accession:  0001213900-23-048958
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.01, 3.02, 5.02, 4.01, 9.01, 3.03, 5.01, 5.03, 5.05, 5.06
LLM model:  deepseek-v4-flash:cloud@v2

NET Power completes business combination with Rice Acquisition; begins trading on NYSE
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- Business combination closed June 8, 2023; NET Power Inc. (formerly RONI) now public under ticker NPWR.
- PIPE financing raised $540.4M from 54.0M shares at $10.00/share to fund growth.
- Public redemptions of 21.2M shares at $10.33; post-combination shares: 67.4M Class A, 144.8M Class B.
- Board of 10 directors: OXY designates three, 8 Rivers, Constellation, Sponsor each one.
- Legacy holders locked up: 33.3% price-based (3yr) and 66.7% time-based (1yr) with price-trigger acceleration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1845437/000121390023048958/0001213900-23-048958-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1845437/000121390023048958/ea180242-8k_netpower.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-048958

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer