Company: NPWR-WT
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001845437-25-000008
Chunk: 14

Company: NET Power Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 16
Chunk 14
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Vesting of profits interests— — 2,864 Vesting of Earnout Shares— 1,118 — Share-based compensation expense33,666 14,122 8,593 Changes in operating assets and liabilities:Accounts receivable, net58 (58)— Interest receivable(989)(1,942)— Prepaid expenses and other current assets47 (1,102)1,312 Other long-term assets(625)— — Accounts payable2,475 (1,957)1,768 Accrued liabilities4,024 (5,297)(384)Due to related parties183 142 3,203 Net cash used in operating activities(31,649)(38,379)(10,623)Cash flows from investing activities:Cash acquired as part of the Business Combination — 7,948 — Purchase of short-term investments— (100,000)— Purchases of available-for-sale securities(169,894)— — Maturities of available-for-sale securities71,075 — — Capitalized software(1,203)— — Purchase of property, plant and equipment(68,651)(9,217)(2,431)Net cash used in investing activities(168,673)(101,269)(2,431)

The accompanying notes are an integral part of these consolidated financial statements

F-8

Audited Financial Statements of NET Power Inc. - Table of Contents

NET Power Inc.

Consolidated Statements of Cash Flows (continued)

(In thousands)

SuccessorPredecessorPeriod FromPeriod FromJune 8, 2023January 1, 2023Year Endedthroughthrough December 31, 2024December 31, 2023June 7, 2023Cash flows from financing activities:Repurchase of redeemed Class A Ordinary Shares$— $(218,983)$— Issuance of Class A Common Stock, including exercise of Warrants19 74 — Payment of income taxes on vested share-based payment awards(130)— — Distributions to members— (181)— Proceeds from PIPE financing, net of issuance costs— 540,451 — Issuance of equity under JDA as a result of the Business Combination — 9,917 — Payment of transaction expenses — (11,722)— Payments on finance lease obligations(67)— — Tax-related partnership