Company: NPWR-WT
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001845437-25-000008
Chunk: 44

Company: NET Power Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 16
Chunk 44
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decessorSuccessorPredecessorPeriod FromPeriod FromPeriod FromPeriod FromJune 8, 2023January 1, 2023June 8, 2023January 1, 2023Year EndedthroughthroughYear Endedthroughthrough$ in thousands December 31, 2024December 31, 2023June 7, 2023 December 31, 2024December 31, 2023June 7, 2023Membership Interests——9,210$— $— $1,943 Class A OpCo Units3,797,6861,236,265296,16025,103 8,172 1,958 Class B Common Stock3,797,6861,236,265296,160— — — Total$25,103 $8,172 $3,901 Shares issued as payment under the terms of the Amended and Restated JDA are issued at a discount expected to cause a total loss of approximately $17.5 million to the Company over the term of the agreement. The Company has incurred inception-to-date losses of $8.0 million related to such issuances.BHES may earn additional shares under the terms of the Amended and Restated JDA (“BHES Bonus Shares”) if it meets certain contractually stipulated project milestones related to the development of our technology. The Company determined that BHES’s achievement of each of these milestones is probable in accordance with the guidance in ASC Topic 718, Share-Based Payments; therefore, the Company recognizes the compensation cost associated with milestone share-based payments ratably over the expected service period. The following table disaggregates the variable share-based compensation payable to BHES should it meet its milestone objectives:$ in thousandsPerformance Period End DateCompensation Cost Incurred To DateRemaining Compensation CostTotal Compensation CostBHES JDA January 2027$23,607 $3,738 $27,345 

F-29

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

Additionally, BHES received 1,500,265 Class A OpCo Units and a corresponding number of shares of Class B Common Stock in conjunction with the consummation of the Business Combination.Refer to Note 15 — Related Party Transactions for additional information related to the BHES JDA.

NOTE 13 — Loss per Share/UnitBasic loss per share attributable to shareholders is calculated by dividing net loss attributable to shareholders by