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Filing Details

Accession Number:: 0001104659-24-100354
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2024-09-16 21:57:58
Reporting Period:: 2024-09-12

Accepted Time:: 2024-09-16 21:57:58
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1845437	Net Power Inc.	NPWR	Electrical Industrial Apparatus (3620)	981580612

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1947998	Sk Inc.	26, Jong-Ro, Jongno-Gu Seoul M5 03188		No	No	Yes	No
1981100	8 Rivers Capital, Llc	406 Blackwell Street, 4Th Floor Durham NC 27701		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Disposition	2024-09-12	2,315	$7.26	105,537	No	4	S	Indirect	By: NPEH, LLC
Class A Common Stock	Disposition	2024-09-13	1,340	$7.26	104,197	No	4	S	Indirect	By: NPEH, LLC
Class A Common Stock	Disposition	2024-09-16	36,752	$7.05	67,445	No	4	S	Indirect	By: NPEH, LLC
Class A Common Stock	Acquisiton	2024-09-16	500,000	$0.00	567,445	No	4	C	Indirect	By: NPEH, LLC
Class B Common Stock	Disposition	2024-09-16	500,000	$0.00	29,005,300	No	4	J	Indirect	By: NPEH, LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By: NPEH, LLC
No	4	S	Indirect	By: NPEH, LLC
No	4	S	Indirect	By: NPEH, LLC
No	4	C	Indirect	By: NPEH, LLC
No	4	J	Indirect	By: NPEH, LLC

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Class A Units of Net Power Operations LLC	Disposition	2024-09-16	500,000	$0.00	500,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
29,005,300			No	4	C	Indirect

Footnotes

The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $7.25 to $7.29. NPEH, LLC ("NPEH") will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.
The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $7.25 to $7.30. NPEH will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.
The price reported reflects the weighted average sales price. The shares of Class A Common Stock were sold in multiple trades at prices ranging from $7.00 to $7.11. NPEH will provide upon request to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.
As manager and holder of approximately 91.4% of the outstanding equity in NPEH, 8 Rivers Capital, LLC ("8 Rivers") may be deemed to be a beneficial owner of the securities directly owned by NPEH. 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.
SK Inc. ("SK") indirectly beneficially owns 100.0% of each of Tillandsia, Inc. ("Tillandsia"), Areca, Inc. ("Areca") and Chamaedorea, Inc. ("Chamaedorea"). Each of Tillandsia, Areca and Chamaedorea beneficially owns approximately 18.06%, 25.02% and 23.41%, 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. 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.
The Class A Units of NET Power Operations LLC 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. On September 16, 2024, NPEH exchanged 500,000 Class A Units of NET Power Operations LLC for 500,000 shares of the Issuer's Class A Common Stock.
For each Class A Unit of Net Power Operations LLC, NPEH owns a corresponding share of Class B Common Stock of the Issuer. Upon the exchange of 500,000 Class A Units of Net Power Operations LLC, an equal number of shares of Class B Common Stock of the Issuer held by NPEH, which have no economic value, were cancelled.