Company: NPWR-WT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001845437-25-000053
Chunk: 42

Company: NET Power Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 assets and liabilities that the Company measures at fair value on a recurring basis included in the condensed consolidated balance sheets and indicates the level of the valuation inputs the 

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Table of Contents

Company utilized to determine the fair value:June 30,December 31,$ in thousandsLevel20252024AssetsAvailable-for-sale investments1$188,287 $100,972 Short-term investments2— 100,000 Total assets$188,287 $200,972 LiabilitiesPublic Warrants1$2,845 $31,034 Private Placement Warrants34,796 50,249 Earnout Shares321 1,958 Total liabilities$7,662 $83,241 The following table contains a reconciliation of the beginning and ending balances of recurring Level 3 fair value measurements included in the condensed consolidated statements of operations and comprehensive loss:Three Months Ended June 30,Six Months Ended June 30,$ in thousands2025202420252024Balance of recurring Level 3 liabilities at beginning of period$6,404 $47,164 $52,207 $38,622 Change in Earnout Shares liability(61)(743)(1,937)(267)Change in Private Placement Warrant liability(1,526)(10,246)(45,453)(2,180)Balance of recurring Level 3 liabilities at end of period$4,817 $36,175 $4,817 $36,175      Short-term InvestmentsShort-term investments are valued at cost, which approximates fair value. The fair value of the short-term investments is considered a Level 2 fair value measurement because cost basis is observable, but not in an active market.Available-for-sale SecuritiesThe fair value of the available-for-sale investments is classified as a Level 1 fair value measurement, because the investments are valued using the most recent quoted prices for identical assets in active markets.WarrantsThe Public Warrants are exercisable for 8,624,974 shares of Class A Common Stock at a price of $11.50 per share. The Company may redeem the Public Warrants for $0.01 if the last reported trading price of the Company’s Class A Common Stock price equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period. Additionally, the Public Warrants may be redeemed if the last reported trading price of the Company’s Class A Common Stock equals or exceeds $10.00 and is below $18