Company: NPWR-WT
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001845437-25-000008
Chunk: 13

Company: NET Power Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 16
Chunk 13
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 Equity

In thousands, except unit data

Membership InterestsAdditional Paid-in CapitalAccumulated Other Comprehensive IncomeAccumulated DeficitTotal Members' EquityUnitsAmountBalance at December 31, 2022 (Predecessor)3,722,355 $262,622 $26,288 $17 $(224,525)$64,402 Issuance of shares to:Occidental Petroleum37,152 11,859 — — — 11,859 Constellation28,764 9,181 — — — 9,181 BHES (Bonus shares)— — 4,690 — — 4,690 BHES (In-kind shares)15,491 3,269 634 — — 3,903 Vesting of profits interests— — 2,864 — — 2,864 Comprehensive loss— — — — (34,176)(34,176)Balance at June 7, 2023 (Predecessor)3,803,762 $286,931 $34,476 $17 $(258,701)$62,723 

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

F-7

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

NET Power Inc.

Consolidated Statements of Cash Flows

(In thousands)

SuccessorPredecessorPeriod FromPeriod FromJune 8, 2023January 1, 2023Year Endedthroughthrough December 31, 2024December 31, 2023June 7, 2023Cash flows from operating activities:Net loss after income tax$(164,644)$(141,816)$(34,176)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation, amortization, and accretion81,623 44,974 5,802 Non-cash interest (income) expense(2,742)— 30 Non-cash lease expense199 200 13 Loss on disposal of property, plant and equipment— 7 — Conversion of equity awards— 86,585 — Allowance for doubtful accounts— — 352 Deferred taxes(10,580)(5,707)— Change in fair value of Earnout Shares liability and Warrant liability25,656 (27,648)—