Rice Acquisition Sponsor II LLC - 30 Jun 2023 Form 4 Insider Report for NET Power Inc. (NPWR)

Role
Former Director and 10% owner
Signature
/s/ James Wilmot Rogers as Attorney-in-Fact
Issuer symbol
NPWR
Transactions as of
30 Jun 2023
Net transactions value
$0
Form type
4
Filing time
30 Jun 2023, 17:22:12 UTC
Previous filing
12 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NPWR Class A Common Stock Other $0 -2,500 -100% $0.000000* 0 30 Jun 2023 Direct F1
transaction NPWR Class B Common Stock Other $0 -7,535,000 -100% $0.000000* 0 30 Jun 2023 Direct F1

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
transaction NPWR Class A Units of NET Power Operations LLC Other $0 -100 -100% $0.000000* 0 30 Jun 2023 Class A Common Stock 100 Direct F1, F2
transaction NPWR Class B Units of NET Power Operations LLC Other $0 -7,534,900 -100% $0.000000* 0 30 Jun 2023 Class A Common Stock 7,534,900 Direct F1, F3
transaction NPWR Warrants Other $0 -10,900,000 -100% $0.000000* 0 30 Jun 2023 Class A Common Stock 10,900,000 $11.50 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Rice Acquisition Sponsor II LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Represents the pro rata distribution of the securities of the issuer held by the reporting person to all of its members. Prior to such distribution, and as of the date hereof, no such securities have been disposed of for cash by either the reporting person or its members.
F2 The Class A Units of NET Power Operations LLC ("Opco") (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 cash, at the issuer's election, on a one-for-one basis and have no expiration date.
F3 The Class B Units of Opco are convertible into Class A Units of Opco on a one-for-one basis pursuant to the terms of the limited liability agreement of Opco. The Class A Units of Opco (together with the corresponding shares of the issuer's Class B common stock) are then exchangeable into shares of the issuer's Class A common stock or cash, at the issuer's election, on a one-for-one basis and have no expiration date.