NET Power Inc. (NPWR) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 11, 2026

Risk Assessment Details

Potential Dilution: 43.11% of current shares
Recent Dilution: 17.86% (2 years)
Historical Dilution Factor: moderate recent dilution
Outstanding Shares
85M
Potential Supply
37M
Additional shares possible
Splits
None
Past 2 years

Summary

NPWR currently has 85.4M outstanding shares. with moderate dilution risk from 36.8M authorized shares representing 43.1% potential dilution. The company has diluted shareholders by 17.86% over the past 2 years through share issuances.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 11, 2026

10-Q filing | 85.4M shares outstanding

85M 37M
Mar 09, 2026

10-K filing | 78.8M shares outstanding

79M 37M
Nov 13, 2025

10-Q filing | 77.9M shares outstanding

78M 37M
Aug 11, 2025

10-Q filing | 77.7M shares outstanding

78M 37M
May 12, 2025

10-Q filing | 77.0M shares outstanding

77M 37M
Mar 10, 2025

10-K filing | 73.4M shares outstanding

73M 37M
Nov 15, 2024

S-3 filing: The company may offer and sell shares of Class A common stock, preferred stock, warrants, rights, or units, or any combination thereof, up to an aggregate initial offering price of $750,000,000; also covers the offering and resale by the selling stockholder of up to 2,806,243 shares of Class A Common Stock.

74M 37M
Nov 12, 2024

10-Q filing | 73.5M shares outstanding

74M 34M
Aug 12, 2024

10-Q filing | 72.2M shares outstanding

72M 34M
Jul 01, 2024

POS AM filing: This prospectus relates to the resale from time to time of 200,445,567 shares of our Class A common stock and 10,900,000 warrants by the selling security holders named in this prospectus.

72M 34M
May 17, 2024

POS AM filing: This prospectus relates to the resale from time to time of 203,473,864 shares of our Class A common stock and 10,900,000 warrants by the selling security holders named in this prospectus.

72M 34M
May 13, 2024

10-Q filing | 71.9M shares outstanding

72M 250M
Mar 11, 2024

10-K filing | 69.8M shares outstanding

70M 250M
Nov 14, 2023

10-Q filing | 69.0M shares outstanding

69M 250M
Sep 15, 2023

S-1/A filing: This prospectus relates to the resale from time to time of 204,903,904 shares of our Class A common stock and 10,900,000 warrants to purchase shares of Class A common stock by the selling security holders named in this prospectus.

67M 250M
Aug 14, 2023

10-Q filing | 67.4M shares outstanding

67M 250M
Jul 07, 2023

S-1 filing: This S-1 filing relates to the resale of 201,480,913 shares of Class A common stock and 10,900,000 warrants to purchase shares of Class A common stock by selling security holders.

35M 250M
May 12, 2023

10-Q filing | 34.5M shares outstanding

35M 34M
Mar 02, 2023

10-K filing | 34.5M shares outstanding

35M 34M
Dec 14, 2022

8-K filing: Rice Acquisition Corp. II (RONI) entered into a Business Combination Agreement with NET Power, LLC, involving domestication, merger, and issuance of Class A Common Stock and Class B Common Stock, along with a private placement (PIPE Financing) of 22,545,000 shares of Class A Common Stock at an aggregate purchase price of $225,450,000. ($225.45M proceeds)

35M 34M
Nov 10, 2022

10-Q filing | 34.5M shares outstanding

35M 34M
Aug 15, 2022

10-Q filing | 34.5M shares outstanding

35M 34M
May 11, 2022

10-Q filing | 34.5M shares outstanding

35M 34M
Mar 30, 2022

10-K filing | 34.5M shares outstanding

35M 34M
Nov 12, 2021

10-Q filing | 34.5M shares outstanding

35M 34M
Aug 12, 2021

10-Q filing | 34.5M shares outstanding

35M 34M
Jul 30, 2021

10-Q filing | 34.5M shares outstanding

35M 34M
Jun 09, 2021

S-1/A filing: This is an initial public offering of units, each consisting of one Class A ordinary share and one-fourth of one redeemable warrant, at an offering price of $10.00 per unit, with the intention to focus on a target business in the broadly defined energy transition or sustainability arena.

2.5K 34M
Jun 03, 2021

S-1/A filing: This S-1/A filing details Rice Acquisition Corp. II's offering of units, each consisting of one Class A ordinary share and one-fourth of one redeemable warrant, and includes details on the Private Placement Warrants to be purchased by the Sponsor.

7.2M 34M
May 21, 2021

S-1/A filing: Rice Acquisition Corp. II is offering 25,000,000 units at $10.00 per unit in an initial public offering, with each unit consisting of one Class A ordinary share and one-fourth of one redeemable warrant; additionally, the sponsor will purchase 9,000,000 warrants at $1.00 per warrant in a private placement.

7.2M 34M
May 06, 2021

S-1/A filing: This is an S-1/A filing for an initial public offering of units by Rice Acquisition Corp. II, a blank check company, with each unit consisting of one Class A ordinary share and one-fourth of one redeemable warrant, along with a private placement of warrants to the sponsor.

2.5K 25M
Mar 10, 2021

S-1 filing: Rice Acquisition Corp. II is offering 25,000,000 units at $10.00 per unit in an initial public offering, with each unit consisting of one Class A ordinary share and one-fourth of one redeemable warrant. The company intends to focus its search for a target business in the broadly defined energy transition or sustainability arena.

N/A 31M
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