Rice Acquisition II in an 8-K said it added $15 million to its pipe financing for the proposed merger with NET Power.
This latest financing follows news of a $50 million PIPE earlier this month and $275 million in PIPE commitments in April.
Assuming no shareholders in Rice II redeem stock, the combined company is expected to have a market capitalization in excess of $2 billion.
NET Power has developed a technology that delivers clean, reliable, and low-cost power from natural gas. Read more.
Source: Rice Acquisition Adds Another M to PIPE Supporting NET Power Deal