NET Power Completes Merger with Rice Acquisition Corp. II to Accelerate Clean Natural Gas
The following blog post contains information about a recent merger between NET Power and Rice Acquisition Corp. II. It is important to note that investing in stocks and companies involves inherent risks, and the information provided in this blog post should not be considered as financial advice or a recommendation to invest. Please conduct thorough research and consult with a financial advisor before making any investment decisions.
**NET Power Completes Merger with Rice Acquisition Corp. II to Accelerate Clean Natural Gas Power Generation**
*Jun. 08, 2023 4:10 PM ET*
**ETEQT Corporation (EQT), BP, NPWR**
NET Power, an energy company focused on clean, affordable, and reliable energy, and Rice Acquisition Corp. II (RONI), a special purpose acquisition company, have announced the completion of their business combination. The combined company, now operating as NET Power Inc., is expected to have a market capitalization of over $2.0 billion and will begin trading on the New York Stock Exchange under the ticker symbol "NPWR" on June 9, 2023.
The merger provides NET Power with gross proceeds of more than $675 million, including PIPE capital from financial and strategic investors. These funds will be utilized to support corporate operations and accelerate the deployment of NET Power's patented technology. NET Power's technology aims to generate near zero-emissions utility-scale power, offering a clean, affordable, and reliable energy solution.
It is essential to recognize that investing in the stock market involves risks, and the past performance of companies or stocks may not be indicative of future results. The valuation and market capitalization figures mentioned in this blog post are based on available information at the time of writing and are subject to market fluctuations.
NET Power has received investments from prominent industry partners such as Occidental, Baker Hughes, Constellation, and 8 Rivers, all of whom have rolled 100% of their equity into the combined company. These partnerships demonstrate the industry's confidence in NET Power's technology and its potential to contribute to the global energy landscape.
However, it is crucial to remember that investing in newly merged or emerging companies carries inherent risks. Factors such as market conditions, competition, regulatory changes, and technological advancements can significantly impact the performance and value of investments.
The advisors involved in the business combination include Guggenheim Securities, LLC, Barclays Capital Inc., Kirkland & Ellis LLP, Credit Suisse Securities (USA) LLC, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., and Vinson & Elkins L.L.P. These firms provided financial and legal counsel to the respective parties involved.
NET Power, founded in 2010 and headquartered in Durham, North Carolina, invents, develops, and licenses clean power generation technology. The company aims to globally deploy affordable and reliable zero-emissions energy solutions. For more detailed information about NET Power and its projects, please visit their official website at https://netpower.com/.
Rice Acquisition Corp. II is led by Danny Rice and Kyle Derham, former executives of Rice Energy, Inc. and Rice Midstream Partners. Their previous business combinations and industry experience have contributed to the creation of Archaea Energy, Inc., a renewable natural gas platform acquired by BP in December 2022. Additional details about Rice Acquisition Corp. II can be found on their website at https://ricespac.com/rac-ii/.
In conclusion, while the completion of the merger between NET Power and Rice Acquisition Corp. II presents an exciting opportunity in the clean natural gas power generation sector, it is important to exercise caution and diligence when considering investment opportunities. Prior to making any investment decisions, it is recommended to perform thorough research, evaluate the potential risks and rewards, and consult with a qualified financial advisor. Investing in
stocks involves risks, and past performance is not indicative of future results.