[SCHEDULE 13D/A] NET Power Inc. SEC Filing

Rhea-AI Filing Summary

NET Power Inc. (NPWR): Schedule 13D/A Amendment No. 7 updates ownership by 8 Rivers–affiliated entities. The reporting group discloses beneficial ownership of 24,702,880 shares of Class A common stock, representing 23.61% of the class. This includes 1,973,000 shares of Class A common stock held directly by NPEH and 22,729,880 Opco Units exchangeable one-for-one into Class A shares, with an equal number of Class B shares to be cancelled upon exchange.

NPEH exchanged 4,000,000 Opco Units for 4,000,000 Class A shares on October 14, 2025, then sold 2,027,000 Class A shares between October 15–29, 2025, leaving 1,973,000 Class A shares held directly. The percentage calculation references 79,909,957 Class A shares outstanding, comprised of 77,882,957 outstanding as of August 7, 2025 and 2,027,000 shares sold by NPEH following the exchange. The reporting persons report 0 sole voting/dispositive power and 24,702,880 shared voting and shared dispositive power.

Insights

Securities disclosure analyst

Ownership updated to 23.61% via exchanges and sales; administrative.

The filing details a revised ownership position by entities affiliated with 8 Rivers and NPEH. The group reports beneficial ownership of 24,702,880 Class A shares (23.61%), consisting of 1,973,000 directly held shares and 22,729,880 Opco Units exchangeable one-for-one into Class A. Voting and dispositive authority are reported as shared for the full amount, with no sole power.

The mechanics show an exchange of 4,000,000 Opco Units on October 14, 2025 followed by sales of 2,027,000 Class A shares during October 15–29, 2025. The outstanding share base used is 79,909,957, anchored to the issuer’s prior figure plus shares sold following the exchange.

This is a governance and ownership update rather than an operational event. Actual market impact depends on holder activity; the filing lists permitted changes already completed within the stated dates.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

NET Power Inc.

(Name of Issuer)

Class A Common Stock, par value $0.0001

(Title of Class of Securities)

64107A105

(CUSIP Number)

Min Lee
8 Rivers Capital, LLC, 406 Blackwell Street, 4th Floor
Durham, NC, 27701
919-667-1800

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

10/27/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

8 Rivers Capital, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,702,880.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,702,880.00

11

Aggregate amount beneficially owned by each reporting person

24,702,880.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

23.61 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 8, 10 and 11. Beneficial ownership of shares of Class A common stock, par value $0.0001 per share ("Class A Common Stock"), of NET Power Inc. (the "Issuer") is being reported hereunder solely because the reporting person may be deemed to have beneficial ownership of such shares as a result of the relationships described under Item 2 and Item 3 and the matters described in Item 3, Item 4 and Item 5 of Schedule 13D (as defined below), as amended by this Amendment No. 7 (as defined below). Represents (i) 1,973,000 shares of Class A Common Stock held directly by NPEH and (ii) 22,729,880 Class A Units of NET Power Operations LLC ("Opco Units") held directly by NPEH, LLC ("NPEH"), that are exchangeable for shares of Class A Common Stock on a one-for-one basis as described herein. At the time of any such exchange, an equal number of shares of Class B common stock, par value $0.0001 per share ("Class B Common Stock"), of the Issuer held directly by NPEH, which have no economic value, will be cancelled. Row 13. Based upon (i) 79,909,957 shares of Class A Common Stock issued and outstanding comprised of (a) 77,882,957 shares of Class A Common Stock issued and outstanding as of August 7, 2025, as reported in the Issuer's Current Report on Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on August 11, 2025 (the "Issuer Form 10-Q") and (b) 2,027,000 shares of Class A Common Stock that were sold by NPEH between October 15, 2025 and October 29, 2025 following the redemption and exchange of an equal number of OpCo Units (and the cancellation of an equal number of shares of Class B Common Stock) and (ii) 1,973,000 shares of Class A Common Stock held directly by NPEH and 22,729,880 shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

NPEH, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,702,880.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,702,880.00

11

Aggregate amount beneficially owned by each reporting person

24,702,880.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

23.61 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 8, 10 and 11. Represents 1,973,000 shares of Class A Common Stock and 22,729,880 Opco Units held directly by NPEH that are exchangeable for shares of Class A Common Stock on a one-for-one basis as described herein. At the time of any such exchange, an equal number of shares of Class B Common Stock held directly by NPEH, which have no economic value, will be cancelled. Row 13. Based upon (i) 79,909,957 shares of Class A Common Stock outstanding comprised of (a) 77,882,957 shares of Class A Common Stock issued and outstanding as of August 7, 2025, as reported in the Issuer Form 10-Q and (b) 2,027,000 shares of Class A Common Stock that were sold by NPEH between October 15, 2025 and October 29, 2025 following the redemption and exchange of an equal number of OpCo Units (and the cancellation of an equal number of shares of Class B Common Stock) and (ii) 1,973,000 shares of Class A Common Stock held directly by NPEH and 22,729,880 shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

TILLANDSIA, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 8 and 10. Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea and Cynda Beauchamp ("Mrs. Beauchamp") directly owns 100% of the outstanding equity of 8RCH. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers Capital, LLC ("8 Rivers"), and Mr. Beauchamp directly owns approximately 2.27% of the voting units of 8 Rivers. Thus, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to be a beneficial owner of the shares beneficially owned by 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and thus may be deemed to be a beneficial owner of the shares of Class A Common Stock deemed to be directly owned by NPEH. As indicated above, each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers and none of Tillandsia, Areca or Chamaedorea controls 8 Rivers or NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

ARECA, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 8 and 10. Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers and Mr. Beauchamp directly owns approximately 2.27% of the voting units of 8 Rivers. Thus, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to be a beneficial owner of the shares beneficially owned by 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and thus may be deemed to be a beneficial owner of the shares of Class A Common Stock deemed to be directly owned by NPEH. As indicated above, each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers and none of Tillandsia, Areca or Chamaedorea controls 8 Rivers or NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

CHAMAEDOREA, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Row 8 and 10. Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers and Mr. Beauchamp directly owns approximately 2.27% of the voting units of 8 Rivers. Thus, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to be a beneficial owner of the shares beneficially owned by 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and thus may be deemed to be a beneficial owner of the shares of Class A Common Stock deemed to be directly owned by NPEH. As indicated above, each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, of the voting units of 8 Rivers and none of Tillandsia, Areca or Chamaedorea controls 8 Rivers or NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

Damian Beauchamp

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,702,880.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,702,880.00

11

Aggregate amount beneficially owned by each reporting person

24,702,880.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

23.61 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Rows 8, 10 and 11: Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Mrs. Beauchamp directly owns 100% of the interests of 8RCH. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, or an aggregate of approximately 68.48% of the voting units of 8 Rivers and Mr. Beauchamp directly owns approximately 2.27% of the voting units of 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and may be deemed to beneficially own the shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH. Because of the foregoing relationships, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to beneficially own the shares of Class A Common Stock that may be beneficially owned by 8 Rivers. Row 13: Based upon (i) 79,909,957 shares of Class A Common Stock outstanding comprised of (a) 77,882,957 shares of Class A Common Stock issued and outstanding as of August 7, 2025, as reported in the Issuer Form 10-Q and (b) 2,027,000 shares of Class A Common Stock that were sold by NPEH between October 15, 2025 and October 29, 2025 following the redemption and exchange of an equal number of OpCo Units (and the cancellation of an equal number of shares of Class B Common Stock) and (ii) 1,973,000 shares of Class A Common Stock held directly by NPEH and 22,729,880 shares of Class A Common Stock held directly by NPEH and 22,729,880 shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

8RCH, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,702,880.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,702,880.00

11

Aggregate amount beneficially owned by each reporting person

24,702,880.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

23.61 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Rows 8, 10 and 11: Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Mrs. Beauchamp directly owns 100% of the interests of 8RCH. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, or an aggregate of approximately 68.48% of the voting units of 8 Rivers and Mr. Beauchamp directly owns approximately 2.27% of the voting units of 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and may be deemed to beneficially own the shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH. Because of the foregoing relationships, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to beneficially own the shares of Class A Common Stock that may be beneficially owned by 8 Rivers. Row 13: Based upon (i) 79,909,957 shares of Class A Common Stock outstanding comprised of (a) 77,882,957 shares of Class A Common Stock issued and outstanding as of August 7, 2025, as reported in the Issuer Form 10-Q and (b) 2,027,000 shares of Class A Common Stock that were sold by NPEH between October 15, 2025 and October 29, 2025 following the redemption and exchange of an equal number of OpCo Units (and the cancellation of an equal number of shares of Class B Common Stock) and (ii) 1,973,000 shares of Class A Common Stock held directly by NPEH and 22,729,880 shares of Class A Common Stock held directly by NPEH and 22,729,880 of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH.

SCHEDULE 13D

CUSIP No. 64107A105

1

Name of reporting person

Cynda Beauchamp

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,702,880.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,702,880.00

11

Aggregate amount beneficially owned by each reporting person

24,702,880.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

23.61 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Rows 8, 10 and 11: Mr. Beauchamp directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Mrs. Beauchamp directly owns 100% of the interests of 8RCH. 8RCH directly owns 50% of the outstanding equity of each of Tillandsia, Areca and Chamaedorea. Each of Tillandsia, Areca and Chamaedorea directly owns approximately 18.60%, 25.77% and 24.11%, respectively, or an aggregate of approximately 68.48% of the voting units of 8 Rivers and Mr. Beauchamp directly owns approximately 2.27% of the voting units of 8 Rivers. 8 Rivers owns approximately 91.4% of the outstanding equity of NPEH and is the manager of NPEH and may be deemed to beneficially own the shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH. Because of the foregoing relationships, each of Mr. Beauchamp, Mrs. Beauchamp and 8RCH may be deemed to beneficially own the shares of Class A Common Stock that may be beneficially owned by 8 Rivers. Row 13: Based upon (i) 79,909,957 shares of Class A Common Stock outstanding comprised of (a) 77,882,957 shares of Class A Common Stock issued and outstanding as of August 7, 2025, as reported in the Issuer Form 10-Q, (b) 2,027,000 shares of Class A Common Stock that were sold by NPEH between October 15, 2025 and October 29, 2025 following the redemption and exchange of an equal number of OpCo Units (and the cancellation of an equal number of shares of Class B Common Stock) and (ii) 1,973,000 shares of Class A Common Stock held directly by NPEH and 22,729,880 shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock, par value $0.0001
(b)	Name of Issuer: NET Power Inc.
(c)	Address of Issuer's Principal Executive Offices: 320 Roney Street, Suite 200, Durham, NORTH CAROLINA , 27701.
Item 1 Comment: This Amendment No. 7 ("Amendment No. 7") to Schedule 13D amends the statement on Schedule 13D originally filed by each of 8 Rivers, NPEH, SK, Tillandsia, Areca and Chamaedorea (each, a "Reporting Person" and, collectively, the "Reporting Persons") on June 20, 2023, as amended by Amendment No. 1 on May 28, 2024, as amended by Amendment No. 2 on September 23, 2024, as amended by Amendment No. 3 on October 21, 2024, as amended by Amendment No. 4 on November 26, 2024, as amended by Amendment No. 5 on July 17, 2025, and as amended by Amendment No. 6 on August 1, 2025 (the "Schedule 13D"). Capitalized terms used but not defined in this Amendment No. 7 shall have the same meanings ascribed to them in the Schedule 13D. Except as otherwise provided herein, each Item of the Schedule 13D remains unchanged.
Item 4.	Purpose of Transaction
	The information contained in Item 4 of Schedule 13D is hereby amended and supplemented by adding the following information: On October 14, 2025, NPEH effected the exchange of 4,000,000 Opco Units for 4,000,000 shares of Class A Common Stock. Upon such exchange, an equal number of shares of Class B Common Stock held by NPEH, which have no economic value, were cancelled. Between October 15, 2025 and October 29, 2025, NPEH sold 2,027,000 shares of Class A Common Stock held by it, with 1,973,000 share of Class A Common Stock remaining.
Item 5.	Interest in Securities of the Issuer
(a)	The information contained in Item 5(a) and (b) of the Schedule 13D is hereby amended and restated in its entirety as follows: The information contained in rows 7, 8, 9, 10, 11 and 13 of the cover pages for each Reporting Person is hereby incorporated by reference in its entirety into this Item 5. The percentages reported in this Amendment No. 7 are calculated based upon (i) 79,909,957 shares of Class A Common Stock outstanding comprised of (a) 77,882,957 shares of Class A Common Stock issued and outstanding as of August 7, 2025, as reported in the Issuer Form 10-Q and (b) 2,027,000 shares of Class A Common Stock that were sold by NPEH between October 15, 2025 and October 29, 2025 and (ii) 1,973,000 shares of Class A Common Stock held directly by NPEH and 22,729,880 shares of Class A Common Stock issuable to NPEH upon the redemption and exchange of an equal number of Opco Units (and the cancellation of an equal number of shares of Class B Common Stock) held by NPEH.
(c)	Except as described in Schedule 13D and this Amendment No. 7, no transactions in the class of securities reported have been effected during the past sixty (60) days by the Reporting Persons.
(d)	Other than as described in this Amendment No. 7, to the knowledge of the Reporting Persons, no other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities of Issuer covered by this Amendment No. 7.
(e)	Not applicable.
Item 7.	Material to be Filed as Exhibits.
	Joint Filing Agreement by and between 8 Rivers Capital, LLC, NPEH, LLC, Damian Beauchamp, Cynda Beauchamp, 8RCH, LLC, Tillandsia, Inc., Areca, Inc., Chamaedorea, Inc., and SK Inc. dated July 30, 2025 (incorporated by reference to Exhibit 99.1 to the Company's Schedule 13D/A filed with the SEC on August 1, 2025).

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

8 Rivers Capital, LLC

Signature:	/s/ Min Lee
Name/Title:	Min Lee, General Counsel
Date:	10/29/2025

NPEH, LLC

Signature:	/s/ Min Lee
Name/Title:	Min Lee, General Counsel
Date:	10/29/2025

TILLANDSIA, INC.

Signature:	/s/ Damian Beauchamp
Name/Title:	Damian Beauchamp, Authorized Representative
Date:	10/29/2025

ARECA, INC.

Signature:	/s/ Damian Beauchamp
Name/Title:	Damian Beauchamp, Authorized Representative
Date:	10/29/2025

CHAMAEDOREA, INC.

Signature:	/s/ Damian Beauchamp
Name/Title:	Damian Beauchamp, Authorized Representative
Date:	10/29/2025

Damian Beauchamp

Signature:	/s/ Damian Beauchamp
Name/Title:	Damian Beauchamp
Date:	10/29/2025

8RCH, LLC

Signature:	/s/ Damian Beauchamp
Name/Title:	Damian Beauchamp, President and Secretary
Date:	10/29/2025

Cynda Beauchamp

Signature:	/s/ Cynda Beauchamp
Name/Title:	Cynda Beauchamp
Date:	10/29/2025

FAQ

What stake in NPWR does the reporting group disclose in this 13D/A?

They report beneficial ownership of 24,702,880 Class A shares, representing 23.61% of the class.

How is the 24,702,880 share figure composed for NPWR?

It includes 1,973,000 Class A shares held by NPEH and 22,729,880 Opco Units exchangeable one-for-one into Class A shares.

What transactions did NPEH report in October 2025 for NPWR?

On Oct 14, 2025 NPEH exchanged 4,000,000 Opco Units for Class A shares, then sold 2,027,000 Class A shares between Oct 15–29, 2025.

What share count did the filing use to calculate ownership percentage for NPWR?

It references 79,909,957 Class A shares outstanding, combining 77,882,957 as of Aug 7, 2025 and 2,027,000 shares sold post-exchange.

Who holds voting and dispositive power over the NPWR shares?

The reporting persons disclose 0 sole voting/dispositive power and 24,702,880 shared voting and shared dispositive power.

Which entities and individuals are reporting persons in this NPWR 13D/A?

They include 8 Rivers Capital, LLC, NPEH, LLC, Damian Beauchamp, Cynda Beauchamp, 8RCH, LLC, Tillandsia, Inc., Areca, Inc., and Chamaedorea, Inc..