HOUSTON, Nov. 19, 2021 /PRNewswire/ -- Nabors Energy
Transition Corp. (the "Company") announced today the closing of its
initial public offering (the "IPO") of 27,600,000 units at a price
of $10.00 per unit. This includes the
exercise in full by the underwriters of their option to purchase up
to an additional 3,600,000 units. The units are listed on the New
York Stock Exchange (the "NYSE") and trade under the ticker symbol
"NETC.U". Each unit consists of one share of the Company's Class A
common stock and one-half of one redeemable warrant, with each
whole warrant entitling the holder thereof to purchase one share of
the Company's Class A common stock at an exercise price of
$11.50 per share. Only whole warrants
are exercisable. Once the securities comprising the units begin
separate trading, the shares of Class A common stock and warrants
are expected to be listed on the NYSE under the symbols "NETC" and
"NETC.WS," respectively.
Citigroup and Wells Fargo Securities acted as joint book-running
managers and representatives of the underwriters for the IPO.
The IPO was made by means of a prospectus. Copies of the
preliminary prospectus relating to the IPO and final prospectus may
be obtained from Citigroup Global Markets Inc., c/o Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at
1-800-831-9146, or Wells Fargo Securities, LLC, Attention: Equity
Syndicate Department, 500 West 33rd Street, New York, NY 10001, by telephone at +1
833-690-2713 or by email at cmclientsupport@wellsfargo.com.
A registration statement relating to these securities has been
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on November 16, 2021.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Nabors Energy Transition Corp.
Nabors Energy Transition Corp. is a blank check company formed
for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses. The Company
intends to identify solutions, opportunities, companies or
technologies that focus on advancing the energy
transition; specifically, ones that facilitate, improve
or complement the reduction of carbon or greenhouse gas
emissions while satisfying growing energy consumption across
markets globally.
Forward Looking Statements
This press release contains statements that constitute
"forward-looking statements." Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company's registration statement and
prospectus for the Company's offering filed with the SEC. Copies
are available on the SEC's website, www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contacts:
William C. Conroy +1 281-775-2423
Email: William.conroy@nabors-etcorp.com
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SOURCE Nabors Energy Transition Corp.