XML 15 R5.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statement of Shareholders’ Equity and Non-Controlling Interest (Unaudited) (Successor) - USD ($)
$ in Thousands
Total
NET Power, Inc.
NET Power, LLC.
RONI
Class A Common Stock
Class A Common Stock
NET Power, Inc.
Class A Common Stock
RONI
Class B ordinary shares
Common Stock
Class A Common Stock
Common Stock
Class A Common Stock
NET Power, Inc.
Common Stock
Class B ordinary shares
Common Stock
Class B ordinary shares
NET Power, Inc.
Common Stock
Class B ordinary shares
NET Power, LLC.
Common Stock
Class A Ordinary Shares
Common Stock
Class A Ordinary Shares
NET Power, Inc.
Common Stock
Class B Ordinary Shares
Common Stock
Class B Ordinary Shares
NET Power, Inc.
Additional Paid-in-Capital
Additional Paid-in-Capital
NET Power, Inc.
Additional Paid-in-Capital
NET Power, LLC.
Accumulated Deficit
Accumulated Deficit
NET Power, LLC.
Total Stockholders' Equity
Total Stockholders' Equity
NET Power, Inc.
Total Stockholders' Equity
NET Power, LLC.
Non-controlling Interests
Non-controlling Interests
NET Power, Inc.
Non-controlling Interests
NET Power, LLC.
Common stock, beginning balance (in shares) at Dec. 31, 2022         0                                              
Equity, beginning balance at Dec. 31, 2022 $ 64,402                                                      
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                        
Comprehensive Loss (34,176)                                                      
Common stock, ending balance (in shares) at Jun. 07, 2023                 0   0     2,500   8,625,000                        
Equity, ending balance at Jun. 07, 2023                 $ 0   $ 0     $ 0   $ 1   $ 0     $ (98,966)   $ (98,965)     $ 0    
Temporary equity, ending balance (in shares) at Jun. 07, 2023         34,500,000                                              
Temporary equity, ending balance at Jun. 07, 2023 356,318       $ 356,318                                              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                        
Sponsor forfeiture of RONI Class B ordinary shares and reservation of earnout shares (in shares)                               (1,986,775)                        
Redemption of Class A Common Stock (in shares)               3,606,657 3,606,657                                      
Redemption of Class A Common Stock                                   50,526         50,526     (50,526)    
Conversion of RONI Class A and Class B ordinary shares into NET Power, Inc. Class A and Class B Common Stock, respectively (in shares)                   13,307,276   6,638,225 129,822,703   (2,500)   (6,638,225)                      
Conversion of RONI Class A and Class B ordinary shares into NET Power Inc. Class A and Class B Common Stock, respectively                   $ 1   $ 1 $ 12       $ (1)   $ 60,045 $ (940)   $ 75,711   $ 60,046 $ 74,783   $ 87,094 $ 1,677,546
Issuance of RONI Class A Common Stock to PIPE Investors (in shares)                 54,044,995                                      
Issuance of RONI Class A Common Stock to PIPE investors                 $ 6                 540,445         540,451          
Issuance of Class A Common Stock (in shares)                 52,523                                      
Equity awards vested due to Business Combination (in shares)                     8,356,635                                  
Equity awards vested due to Business Combination                     $ 1             542     (542)   1     109,639    
Exercise of warrants (in shares)                 2,739                                      
Exercise of warrants                                   47         47          
Member tax distributions                                                   181    
Establishment of liabilities under tax receivable agreement                                   (2,207)         (2,207)          
Vesting of earnout shares                                                   9,055    
Amortization of share based payments (in shares)                         318,607                              
Amortization of share based payments                                   261         261     6,312    
Adjustment of redeemable non-controlling interest to redemption value                                   (455,358)         (455,358)     455,358    
Comprehensive Loss (202,551)                                       (65,564)   (65,564)     (136,987)    
Common stock, ending balance (in shares) at Sep. 30, 2023         71,014,190     141,529,513 71,014,190   141,529,513     0   0                        
Equity, ending balance at Sep. 30, 2023 104,021               $ 7   $ 14     $ 0   $ 0   193,361     (89,361)   104,021     2,157,310    
Increase (Decrease) in Temporary Equity [Roll Forward]                                                        
Redemption of Class A ordinary shares by RONI public shareholders (shares)             (21,195,224)                                          
Redemption of Class A ordinary shares by RONI public shareholders 50,526     $ (218,983)     $ (218,983)                                          
Temporary equity, conversion of RONI Class A and Class B ordinary shares into NET Power, Inc. Class A and Class B Common Stock, respectively (in shares)           (13,304,776)                                            
Temporary equity, conversion of RONI Class A and Class B ordinary shares into NET Power, Inc. Class A and Class B Common Stock, respectively   $ (50,241)       $ (137,335)                                            
Temporary equity, equity awards vested due to Business Combination 109,639                                                      
Temporary equity, issuance of RONI Class B Common Stock to Former NET Power, LLC Unitholders     $ 1,677,546                                                  
Temporary equity, member tax distributions (181)                                                      
Temporary equity, vesting of earnout shares 9,055                                                      
Temporary equity, shares issued, value, share-based payment arrangement, forfeited 6,312                                                      
Temporary equity, adjustment of redeemable non-controlling interest to redemption value 455,358                                                      
Temporary equity, net loss (136,987)                                                      
Temporary equity, ending balance (in shares) at Sep. 30, 2023         0       140,228,066   6,967,050                                  
Temporary equity, ending balance at Sep. 30, 2023 2,157,310       $ 0                                              
Common stock, beginning balance (in shares) at Jun. 30, 2023                 67,352,271   142,711,590     0   0                        
Equity, beginning balance at Jun. 30, 2023                 $ 7   $ 14     $ 0   $ 0   514,219     (58,798)   455,442     1,885,319    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                        
Redemption of Class A Common Stock (in shares)               3,606,657 3,606,657                                      
Redemption of Class A Common Stock                                   50,526         50,526     (50,526)    
Conversion of RONI Class A and Class B ordinary shares into NET Power, Inc. Class A and Class B Common Stock, respectively (in shares)                         2,105,973                              
Conversion of RONI Class A and Class B ordinary shares into NET Power Inc. Class A and Class B Common Stock, respectively                                       $ (928)         $ (928)     $ 928
Issuance of Class A Common Stock (in shares)                 52,523                                      
Exercise of warrants (in shares)                 2,739                                      
Exercise of warrants                                   47         47          
Member tax distributions                                                   181    
Establishment of liabilities under tax receivable agreement                                   (2,207)         (2,207)          
Vesting of earnout shares                                                   9,055    
Amortization of share based payments (in shares)               318,607                                        
Amortization of share based payments                                   261         261     5,560    
Adjustment of redeemable non-controlling interest to redemption value                                   (368,557)         (368,557)     368,557    
Comprehensive Loss (91,966)                                       (30,563)   (30,563)     (61,402)    
Common stock, ending balance (in shares) at Sep. 30, 2023         71,014,190     141,529,513 71,014,190   141,529,513     0   0                        
Equity, ending balance at Sep. 30, 2023 104,021               $ 7   $ 14     $ 0   $ 0   $ 193,361     $ (89,361)   $ 104,021     $ 2,157,310    
Temporary equity, beginning balance (in shares) at Jun. 30, 2023         0                                              
Temporary equity, beginning balance at Jun. 30, 2023 1,885,319       $ 0                                              
Increase (Decrease) in Temporary Equity [Roll Forward]                                                        
Redemption of Class A ordinary shares by RONI public shareholders 50,526                                                      
Temporary equity, issuance of RONI Class B Common Stock to Former NET Power, LLC Unitholders     $ 928                                                  
Temporary equity, member tax distributions (181)                                                      
Temporary equity, vesting of earnout shares 9,055                                                      
Temporary equity, shares issued, value, share-based payment arrangement, forfeited 5,560                                                      
Temporary equity, adjustment of redeemable non-controlling interest to redemption value 368,557                                                      
Temporary equity, net loss (61,402)                                                      
Temporary equity, ending balance (in shares) at Sep. 30, 2023         0       140,228,066   6,967,050                                  
Temporary equity, ending balance at Sep. 30, 2023 $ 2,157,310       $ 0