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- Sponsor Shares Acquired At Approximately $0.0036 Per Share (new) — Extremely low cost basis for sponsor and initial shareholders creates substantial potential selling pressure and dilution for public investors.
Net Power files resale prospectus for 203.5M Class A shares and 10.9M warrants held by selling securityholders
Filed May 24, 2024 · ~1 min read
Key Changes
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The prospectus covers resale of 203,473,864 Class A shares and 10,900,000 warrants by selling securityholders; the company receives no proceeds from these sales.
The Offering verify on EDGAR → -
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53,199,594 Class A shares were issued in a private placement at $10.00 per share and are now being registered for resale, potentially increasing public float.
The Offering verify on EDGAR → -
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Sponsor and initial shareholders acquired shares/units at approximately $0.0036 per share, a nominal cost basis that could lead to significant selling pressure.
The Offering verify on EDGAR →
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 2, 2026 · How we verify