Nabors Energy Transition Corp. Announces Extension of Deadline to Complete Business Combination
The Extension provides NETC with additional time to complete its previously announced initial business combination (the "Business Combination") with Vast Solar Pty Ltd ("Vast").
- The Extension provides NETC with additional time to complete its previously announced initial business combination (the "Business Combination") with Vast Solar Pty Ltd ("Vast").
- ("Nabors Lux") and Greens Road Energy LLC ("Greens Road"), each an affiliate of Nabors Energy Transition Sponsor LLC (the "Sponsor"), have deposited a total of $886,557.69 (the "Extension Payment") into NETC's trust account for its public stockholders (the "Trust Account"), which enables NETC to effectuate the Extension.
- Nabors Lux and Greens Road each loaned their respective portion of the Extension Payment to NETC through a non-interest-bearing loan.
- If NETC does not consummate an initial business combination, it will repay the loans only from funds held outside of the Trust Account.