Key facts
- This page summarizes OCCIDENTAL PETROLEUM CORP /DE/'s Form 3 filing for NET Power Inc. (NPWR).
- 0 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 20 Jun 2023, 18:41.
OCCIDENTAL PETROLEUM CORP /DE/ - 08 Jun 2023 Form 3 Insider Report for NET Power Inc. (NPWR)
- Reporting relationship
- Director, 10%+ Owner
- Issuer ticker
- NPWR
- Reported as of
- 08 Jun 2023
- Net transaction value
- $0
- SEC form
- 3
- Accepted by SEC
- 20 Jun 2023, 18:41:20 UTC
- Prior SEC filing
- 25 Jul 2022
- Next SEC filing
- 14 Sep 2023
- Source filing
- View source filing
- Reporting owner signature
- /s/ Nicole E. Clark, as Vice President and Secretary of OLCV Net Power, LLC
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
OCCIDENTAL PETROLEUM CORP /DE/ filed Form 3 for NET Power Inc. (NPWR) on 20 Jun 2023.
Change
- Previous filing in this sequence was filed on 25 Jul 2022.
- Current net transaction value: $0.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Official SEC source
View source filing
Ownership activity is grounded in SEC Form 3 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
NPWR
holding
Class A common stock, par value $0.0001 per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 33,999,995
- Date
- 08 Jun 2023
- Ownership
- See Footnote
- Footnotes
- F1
NPWR
holding
Class B common stock, par value $0.0001 per share
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- 55,553,247
- Date
- 08 Jun 2023
- Ownership
- See Footnote
- Footnotes
- F1
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
NPWR
holding
Derivative
Class A units
No transaction description listed
- Transaction value
- Shares
- Change %
- Price
- Shares after
- Date
- 08 Jun 2023
- Ownership
- See Footnote
- Underlying class
- Class A common stock, par value $0.0001 per share
- Underlying amount
- 55,553,247
- Exercise price
- Footnotes
- F1, F2
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 2 footnotes
Footnote F1
OLCV Net Power, LLC ("OLCV Net Power") is the owner of record of such shares. OLCV Net Power is a direct, wholly owned subsidiary of Oxy Low Carbon Ventures, LLC ("OLCV"). OLCV is a direct, wholly owned subsidiary of OXY USA Inc. ("OXY USA"). OXY USA is a direct, wholly owned subsidiary of Occidental Petroleum Corporation ("Occidental," and collectively, the "Reporting Persons"). OLCV, OXY USA and Occidental, as a result of such relationships, may be deemed to indirectly beneficially own the shares of Class A Common Stock and Class B Common Stock (each as defined below) owned of record by OLCV Net Power and the Opco Units (as defined below).
Footnote F2
OLCV Net Power owns 55,553,247 Class A units ("Opco Units") of NET Power Operations LLC ("Opco"), in which the Issuer is the sole managing member and whose equity interests are the Issuer's only asset, and an equivalent number of shares of Class B common stock, par value $0.0001 per share (the "Class B Common Stock"). Pursuant to the limited liability company agreement of Opco, at the request of the holder, each Opco Unit may be redeemed at any time for, at the Issuer's election, a newly issued share of Class A common stock, par value $0.0001 per share (the "Class A Common Stock"), or cash, and upon redemption of such Opco Unit, a share of Class B Common Stock shall be surrendered by the holder and canceled by the Issuer. For more information, see the Reporting Persons' Schedule 13D filed with the Securities and Exchange Commission on June 20, 2023 (the "Schedule 13D").
SEC remarks
OLCV Net Power directly acquired (and, through the relationships described in footnote 1, the other Reporting Persons indirectly acquired) beneficial ownership of the securities reported herein in the Issuer's business combination and substantially concurrent PIPE financing. For more information, see the Schedule 13D. Each of the Reporting Persons disclaims beneficial ownership in such securities, except to the extent of its pecuniary interest therein. Each of the Reporting Persons may be deemed a director by deputization, by virtue of their director designees on the board of directors of the Issuer as described in the Schedule 13D.