8 Rivers Capital, LLC - Jun 8, 2023 Form 3 Insider Report for NET Power Inc. (NPWR)

Role
10%+ Owner
Signature
/s/ 8 Rivers Capital, LLC, By Cameron Hosie, Chief Executive Officer
Stock symbol
NPWR
Transactions as of
Jun 8, 2023
Transactions value $
$0
Form type
3
Date filed
6/20/2023, 07:30 PM
Next filing
Sep 6, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding NPWR Class A Common Stock 500K Jun 8, 2023 Direct
holding NPWR Class A Common Stock 5M Jun 8, 2023 By: Tillandsia F2
holding NPWR Class B Common Stock 30M Jun 8, 2023 By: NPEH, LLC F1, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding NPWR Class A Units of NET Power Operations LLC Jun 8, 2023 Class A Common Stock 30M By: NPEH, LLC F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 For each Class A Unit of Net Power Operations LLC, NPEH, LLC owns a corresponding share of Class B Common Stock of the Issuer. The Class A Units of NET Power Operations LLC (together with the corresponding shares of the Issuer's Class B Common Stock) are exchangeable into shares of the issuer's Class A Common Stock or, at the Issuer's election, cash, on a one-for-one basis and have no expiration date.
F2 As holder of 100.0% of the outstanding equity in Tillandsia, Inc. ("Tillandsia"), SK Inc. ("SK") may be deemed to be a beneficial owner of the securities directly owned by Tillandsia. SK disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that SK is the beneficial owner of such securities for purposes of Section 16 or otherwise. 8 Rivers Capital, LLC ("8 Rivers") does not have any interest in the securities held by Tillandsia and thus expressly disclaims beneficial ownership of such securities, and this report shall not be deemed an admission that 8 Rivers is the beneficial owner of such securities for purposes of Section 16 or otherwise.
F3 As manager and holder of approximately 91.4% of the outstanding equity in NPEH, LLC, 8 Rivers may be deemed to be a beneficial owner of the securities directly owned by NPEH, LLC. 8 Rivers disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that 8 Rivers is the beneficial owner of such securities for purposes of Section 16 or otherwise.
F4 SK indirectly beneficially owns 100.0% of each of Tillandsia, Areca, Inc. ("Areca") and Chamaedorea, Inc. ("Chamaedorea"). Each of Tillandsia, Areca and Chamaedorea beneficially owns approximately 15.4%, 26.7% and 20.3%, respectively, of the voting units of 8 Rivers and thus SK may be deemed to be a beneficial owner of the securities beneficially owned by 8 Rivers and NPEH, LLC. SK disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that SK is the beneficial owner of such securities for purposes of Section 16 or otherwise.