[Form 3] NET Power Inc. Initial Statement of Beneficial Ownership
NET Power's Form 3 shows that Damian R. Beauchamp and Cynda Beauchamp report indirect beneficial ownership of 26,729,880 shares of the issuer's Class B common stock through NPEH, LLC. The filing explains NPEH is a majority鈥憃wned subsidiary of 8 Rivers Capital and each Reporting Person holds approximately 34.2% of 8 Rivers. The Form also notes Class A Units of NET Power Operations LLC are exchangeable 辞苍别鈥慺辞谤鈥憃苍别 into Class A common stock or, at the issuer's election, cash, and have no expiration date.
Il Modulo 3 di NET Power indica che Damian R. Beauchamp e Cynda Beauchamp dichiarano la titolarit脿 beneficiaria indiretta di 26.729.880 azioni di classe B dell'emittente tramite NPEH, LLC. La comunicazione precisa che NPEH 猫 una controllata per la maggioranza di 8 Rivers Capital e che ciascuna delle persone che presentano la segnalazione detiene circa il 34,2% di 8 Rivers. Il Modulo osserva inoltre che le Unit脿 di Classe A di NET Power Operations LLC sono convertibili una a una in azioni ordinarie di Classe A o, a scelta dell'emittente, in contanti, e non hanno data di scadenza.
El Formulario 3 de NET Power muestra que Damian R. Beauchamp y Cynda Beauchamp informan la propiedad beneficiaria indirecta de 26.729.880 acciones de la clase B del emisor a trav茅s de NPEH, LLC. La presentaci贸n explica que NPEH es una filial mayoritariamente propiedad de 8 Rivers Capital y que cada persona informante posee aproximadamente el 34,2% de 8 Rivers. El formulario tambi茅n se帽ala que las Unidades de Clase A de NET Power Operations LLC son canjeables una por una por acciones ordinarias de Clase A o, a elecci贸n del emisor, por efectivo, y no tienen fecha de vencimiento.
NET Power鞚� Form 3鞐� 霐半ゴ氅� Damian R. Beauchamp鞕� Cynda Beauchamp電� NPEH, LLC毳� 韱淀暣 氚滍枆須岇偓鞚� 韥措灅鞀� B 氤错喌欤� 26,729,880欤检棎 雽�頃� 臧勳爲鞝� 鞁れ唽鞙犼秾鞚� 鞁犼碃頄堨姷雼堧嫟. 靹滊電� NPEH臧� 8 Rivers Capital鞚� 瓿茧皹靾� 於滌瀽 鞛愴殞靷澊氅�, 臧� 鞁犼碃鞚胳潃 8 Rivers 歆�攵勳潉 鞎� 34.2% 氤挫湢頃橁碃 鞛堧嫟瓿� 靹る獏頃╇媹雼�. 霕愴暅 鞏戩嫕鞐愲姅 NET Power Operations LLC鞚� 韥措灅鞀� A 雼渼電� 韥措灅鞀� A 氤错喌欤茧 1雽�1 甑愴櫂 臧�電ロ晿瓯半倶, 氚滍枆靷潣 靹犿儩鞐� 霐半澕 順勱笀鞙茧 雽�觳措悹 靾� 鞛堨溂氅�, 毵岆鞚检澊 鞐嗠嫟瓿� 旮办灛霅橃柎 鞛堨姷雼堧嫟.
Le formulaire 3 de NET Power indique que Damian R. Beauchamp et Cynda Beauchamp d茅clarent une participation b茅n茅ficiaire indirecte de 26 729 880 actions ordinaires de classe B de l'茅metteur via NPEH, LLC. La d茅claration pr茅cise que NPEH est une filiale majoritairement d茅tenue par 8 Rivers Capital et que chaque personne d茅clarante d茅tient environ 34,2 % de 8 Rivers. Le formulaire note 茅galement que les unit茅s de classe A de NET Power Operations LLC sont 茅changeables une pour une contre des actions ordinaires de classe A ou, au choix de l'茅metteur, contre de l'argent, et n'ont pas de date d'expiration.
Das Formblatt 3 von NET Power zeigt, dass Damian R. Beauchamp und Cynda Beauchamp 眉ber NPEH, LLC eine mittelbare wirtschaftliche Eigent眉merschaft an 26.729.880 Aktien der Klasse-B-Stammaktien des Emittenten melden. Die Einreichung erkl盲rt, dass NPEH eine mehrheitlich im Besitz von 8 Rivers Capital befindliche Tochtergesellschaft ist und jede meldepflichtige Person etwa 34,2% von 8 Rivers h盲lt. Das Formular weist au脽erdem darauf hin, dass Klasse-A-Einheiten von NET Power Operations LLC eins zu eins in Klasse-A-Stammaktien umwandelbar sind oder 鈥� nach Wahl des Emittenten 鈥� in bar ausbezahlt werden k枚nnen und kein Ablaufdatum haben.
- Transparent disclosure of indirect beneficial ownership of 26,729,880 Class B shares via NPEH, LLC
- Clear description that Class A Units are exchangeable 辞苍别鈥慺辞谤鈥憃苍别 for Class A common stock or cash and have no expiration date
- None.
Insights
TL;DR Large indirect block disclosed; conversion feature may affect future share class mix.
The filing documents an indirect holding of 26,729,880 Class B shares held by NPEH, LLC, a vehicle majority鈥憃wned by 8 Rivers Capital. Each Reporting Person reports an approximate 34.2% pecuniary interest in 8 Rivers, which explains the indirect beneficial ownership. The exchangeability of Class A Units into Class A common stock on a 辞苍别鈥慺辞谤鈥憃苍别 basis (or cash at the issuer's election) is a material structural detail investors should note when modeling potential dilution or class conversion scenarios.
TL;DR Disclosure clarifies ownership chain and potential economic interest but contains no direct voting specifics.
The Form 3 clearly identifies the ownership chain: NPEH, LLC holds the reported securities; NPEH is majority鈥憃wned by 8 Rivers Capital; each Reporting Person holds ~34.2% of 8 Rivers. The statement disclaims direct beneficial ownership beyond pecuniary interest. The exchangeable unit feature with no expiration is explicitly described, which is relevant to governance and capital structure reviews, though the filing does not state voting rights or control mechanics tied to these instruments.
Il Modulo 3 di NET Power indica che Damian R. Beauchamp e Cynda Beauchamp dichiarano la titolarit脿 beneficiaria indiretta di 26.729.880 azioni di classe B dell'emittente tramite NPEH, LLC. La comunicazione precisa che NPEH 猫 una controllata per la maggioranza di 8 Rivers Capital e che ciascuna delle persone che presentano la segnalazione detiene circa il 34,2% di 8 Rivers. Il Modulo osserva inoltre che le Unit脿 di Classe A di NET Power Operations LLC sono convertibili una a una in azioni ordinarie di Classe A o, a scelta dell'emittente, in contanti, e non hanno data di scadenza.
El Formulario 3 de NET Power muestra que Damian R. Beauchamp y Cynda Beauchamp informan la propiedad beneficiaria indirecta de 26.729.880 acciones de la clase B del emisor a trav茅s de NPEH, LLC. La presentaci贸n explica que NPEH es una filial mayoritariamente propiedad de 8 Rivers Capital y que cada persona informante posee aproximadamente el 34,2% de 8 Rivers. El formulario tambi茅n se帽ala que las Unidades de Clase A de NET Power Operations LLC son canjeables una por una por acciones ordinarias de Clase A o, a elecci贸n del emisor, por efectivo, y no tienen fecha de vencimiento.
NET Power鞚� Form 3鞐� 霐半ゴ氅� Damian R. Beauchamp鞕� Cynda Beauchamp電� NPEH, LLC毳� 韱淀暣 氚滍枆須岇偓鞚� 韥措灅鞀� B 氤错喌欤� 26,729,880欤检棎 雽�頃� 臧勳爲鞝� 鞁れ唽鞙犼秾鞚� 鞁犼碃頄堨姷雼堧嫟. 靹滊電� NPEH臧� 8 Rivers Capital鞚� 瓿茧皹靾� 於滌瀽 鞛愴殞靷澊氅�, 臧� 鞁犼碃鞚胳潃 8 Rivers 歆�攵勳潉 鞎� 34.2% 氤挫湢頃橁碃 鞛堧嫟瓿� 靹る獏頃╇媹雼�. 霕愴暅 鞏戩嫕鞐愲姅 NET Power Operations LLC鞚� 韥措灅鞀� A 雼渼電� 韥措灅鞀� A 氤错喌欤茧 1雽�1 甑愴櫂 臧�電ロ晿瓯半倶, 氚滍枆靷潣 靹犿儩鞐� 霐半澕 順勱笀鞙茧 雽�觳措悹 靾� 鞛堨溂氅�, 毵岆鞚检澊 鞐嗠嫟瓿� 旮办灛霅橃柎 鞛堨姷雼堧嫟.
Le formulaire 3 de NET Power indique que Damian R. Beauchamp et Cynda Beauchamp d茅clarent une participation b茅n茅ficiaire indirecte de 26 729 880 actions ordinaires de classe B de l'茅metteur via NPEH, LLC. La d茅claration pr茅cise que NPEH est une filiale majoritairement d茅tenue par 8 Rivers Capital et que chaque personne d茅clarante d茅tient environ 34,2 % de 8 Rivers. Le formulaire note 茅galement que les unit茅s de classe A de NET Power Operations LLC sont 茅changeables une pour une contre des actions ordinaires de classe A ou, au choix de l'茅metteur, contre de l'argent, et n'ont pas de date d'expiration.
Das Formblatt 3 von NET Power zeigt, dass Damian R. Beauchamp und Cynda Beauchamp 眉ber NPEH, LLC eine mittelbare wirtschaftliche Eigent眉merschaft an 26.729.880 Aktien der Klasse-B-Stammaktien des Emittenten melden. Die Einreichung erkl盲rt, dass NPEH eine mehrheitlich im Besitz von 8 Rivers Capital befindliche Tochtergesellschaft ist und jede meldepflichtige Person etwa 34,2% von 8 Rivers h盲lt. Das Formular weist au脽erdem darauf hin, dass Klasse-A-Einheiten von NET Power Operations LLC eins zu eins in Klasse-A-Stammaktien umwandelbar sind oder 鈥� nach Wahl des Emittenten 鈥� in bar ausbezahlt werden k枚nnen und kein Ablaufdatum haben.
FAQ
How many NET Power (NPWR) Class B shares are reported on the Form 3?
Who are the reporting persons on the NPWR Form 3?
Through what entity do the Beauchamps hold their reported NPWR securities?
What is the reporting persons' interest in 8 Rivers Capital?
What are the conversion terms for the related Units noted in the filing?
