Form 4: 8 Rivers Capital Reduces NET Power Stake

8 Rivers Capital, a 10% owner and director of NET Power Inc., sold 150,000 shares of Class A Common Stock over two days in November 2025.

Summary

• 8 Rivers Capital, LLC, a 10% owner and director of NET Power Inc. (NPWR), reported sales of Class A Common Stock.
• On November 20, 2025, 132,837 shares were sold at a weighted average price of $2.5971 per share.
• On November 21, 2025, an additional 17,163 shares were sold at a weighted average price of $2.5012 per share.
• The total number of shares sold across both transactions is 150,000.
• Following these transactions, 3,100,000 shares of Class A Common Stock are beneficially owned indirectly by NPEH, LLC.
• 8 Rivers Capital, LLC is the manager and holds approximately 90.9% of the outstanding equity in NPEH, LLC.
• Damian R. Beauchamp, also a director and 10% owner, indirectly owns approximately 68.5% of 8 Rivers Capital, LLC and may be deemed an indirect beneficial owner of the securities owned by NPEH to the extent of his pecuniary interest.

Sentiment

Score: 3

Explanation: The filing reports significant insider selling by a 10% owner and director, which can be perceived negatively by the market as it may signal a lack of confidence or a need for liquidity.

Negatives

• A 10% owner and director, 8 Rivers Capital, LLC, reduced its stake in NET Power Inc. by selling 150,000 shares.
• The sales occurred at weighted average prices of $2.5971 and $2.5012, which could be interpreted as a lack of confidence or a need for liquidity.

Risks

• The sale of shares by a significant insider and director could be perceived as a lack of confidence in the company's future performance, potentially leading to negative market sentiment.
• The reduction in beneficial ownership by a key entity like 8 Rivers Capital, LLC may reduce its alignment with minority shareholders' interests over time.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• 8 Rivers Capital, LLC, a 10% owner and director of NET Power Inc., sold shares.
• Damian R. Beauchamp, also a 10% owner and director, has an indirect pecuniary interest in these sales through his ownership in 8 Rivers Capital, LLC.

Stakeholder Impact

• Shareholders: May interpret the insider selling as a negative signal, potentially impacting stock price.

Key Dates

Recommendation

The sale of 150,000 shares by a significant insider (10% owner and director) like 8 Rivers Capital, LLC, especially at the reported price range, often signals a lack of strong conviction in the company's near-term prospects or a strategic decision to reduce exposure. This insider selling could be interpreted by the market as a negative indicator, potentially leading to downward pressure on the stock price. Investors might consider reducing their holdings or avoiding new positions until more positive catalysts emerge.

Keywords

NET Power Inc., NPWR, 8 Rivers Capital, insider trading, Form 4, stock sale, beneficial ownership, director, 10% owner