NET Power Inc. (NPWR.W) Warrant
Each NPWR.W warrant gives the holder the right to buy 1 share of NET Power Inc. at $11.50 per share, until February 3, 2027. The stock last closed at $1.39, below the strike, so the warrant is out of the money. NET Power Inc. has a market value of about $312.55M. There are 8.62M listed warrants; exercising all of them would add 3.8% to the 224.86M shares outstanding. The company can call the warrants if the stock trades at or above $18.00.
NPWR vs strike, last 12 months
No share-price history for NPWR yet.
Key terms
- Strike per share
- $11.50
- Shares per warrant
- 1
- Cash to exercise one warrant
- $11.50
- Expiry
- 2027-02-03
- Redemption trigger
- $18.00
- Cashless exercise
- allowed
- Break-even stock price
- $11.74
From the issuer's S-1/A (2023-09-15).
Company and stock
- Company
- NET Power Inc.
- Underlying stock
- NPWR
- Share price
- $1.39
- Market cap
- $312.55M
- Shares outstanding
- 224.86M
- Value of all listed warrants
- $2.07M (0.7% of market cap)
Market cap is the last share price times shares outstanding (as of 10-Q 2026-). All SEC filings for this company.
Model value vs price Pro
- Model value
- Last price
- $0.2400
- Price / model
Get Pro to see whether NPWR.W is cheap or rich against our model.
Dilution
- Shares outstanding
- 224.86M
- Listed warrants
- 8.62M
- Dilution if all exercised
- 3.8%
Warrant count from filing notes, read by hand (high): Public Warrants (former Rice Acquisition Corp. II).
Filings and events
Questions about NPWR.W
When does the NPWR.W warrant expire?
NPWR.W expires on February 3, 2027.
What is the strike price of NPWR.W?
$11.50 per share; each warrant converts into 1 share, so exercising one warrant costs $11.50.
Can NET Power Inc. redeem the NPWR.W warrants early?
Yes. The company can call them if the share price reaches $18.00 for the required period (usually 20 of 30 trading days).
How many NPWR.W warrants are outstanding?
8.62M listed warrants, equal to 3.8% dilution if all are exercised.