144: Filing for proposed sale of securities under Rule 144
Published on July 26, 2024
| Form 144 Filer Information |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144
NOTICE OF PROPOSED SALE OF SECURITIES
PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933 |
|
FORM 144 |
144: Filer Information
| Filer CIK | 0001981100 |
| Filer CCC | XXXXXXXX |
| Is this a LIVE or TEST Filing? |
 LIVE
 TEST
|
Submission Contact Information | |
| Name | |
| Phone | |
| E-Mail Address |
144: Issuer Information
| Name of Issuer | NET Power Inc. |
| SEC File Number | 001-40503 |
| Address of Issuer | 320 Roney St. Suite 200 Durham NORTH CAROLINA 27701 |
| Phone | 919-287-4750 |
| Name of Person for Whose Account the Securities are To Be Sold | 8 Rivers Capital, LLC |
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account
the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given
as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales
for the account of the person filing this notice.
| |
| Relationship to Issuer | 10% Stockholder Filer has designee on Issuer board |
144: Securities Information
| Title of the Class of Securities To Be Sold | Class A Common Stock |
| Name and Address of the Broker | Santander US Capital Markets LLC 437 Madison Ave. New York NY 10022 |
| Number of Shares or Other Units To Be Sold | 2515000 |
| Aggregate Market Value | 23967950.00 |
| Number of Shares or Other Units Outstanding | 72162898 |
| Approximate Date of Sale | 07/26/2024 |
| Name the Securities Exchange | NYSE |
Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment
of all or any part of the purchase price or other consideration therefor:
144: Securities To Be Sold
| Title of the Class | Class A Common Stock |
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| Date you Acquired | 06/08/2023 |
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| Nature of Acquisition Transaction | Business combination and concurrent PIPE financing |
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| Name of Person from Whom Acquired | Issuer |
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| Amount of Securities Acquired | 30505300 |
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| Date of Payment | 06/08/2023 |
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| Nature of Payment | See Remarks |
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If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note
thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made
in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.
Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.
144: Securities Sold During The Past 3 Months
| Nothing to Report |  |
144: Remarks and Signature
| Remarks | Shares to be sold includes an indeterminate number of shares of Class A Common Stock issuable to NPEH, LLC ("NPEH"), which is controlled by 8 Rivers Capital, LLC ("8 Rivers"), upon the redemption and exchange of an equal number of Class A Units of NET Power Operations LLC ("OpCo Units") held by NPEH. Aggregate market value is based on the closing market price of $9.53 per share on July 25, 2024. Shares outstanding is as reported by the Issuer in its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024 filed with the SEC on May 13, 2024. Number of securities acquired represents 500,000 shares of Class A Common Stock held directly by 8 Rivers and 30,005,300 Opco Units held directly by NPEH. The shares of Class A Common Stock were paid for in cash and the OpCo Units were converted from issued and outstanding equity interests of NET Power, LLC that were then canceled. |
| Date of Notice | 07/26/2024 |
ATTENTION: | |
| The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date. | |
| Signature | /s/ Chris Richardson |
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001) | |