BOSTON – Mintz advised NET Power, LLC, an energy company whose proprietary technology delivers clean, affordable, and reliable energy, in the completion of its previously announced business combination with Rice Acquisition Corp. II (NYSE: RONI), a publicly traded special purpose acquisition company. The combined company will operate as NET Power Inc. (“NET Power”) and its Class A common stock and warrants to purchase Class A common stock commenced trading on the New York Stock Exchange on June 9, 2023, under the ticker symbol “NPWR” and “NPWR WS,” respectively.
As a result of the business combination, NET Power received gross proceeds of more than $675 million, consisting of more than $135 million from RONI’s trust account and approximately $540 million in PIPE capital from strategic and financial investors.
Read NET Power’s press release.
The Mintz team that advised NET Power, LLC was led by corporate Members Thomas R. Burton, III (Chair of the firm’s Energy & Sustainability Practice), Ayaz R. Shaikh (Chair of the firm’s Projects & Infrastructure Practice) and Jeffrey P. Schultz, and Of Counsel Kristopher L. Kirkwood.
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