Nabors Energy Transition II (NETD, Financial) has chosen to extend its deadline to finalize a business merger, moving the date from July 18 to August 18, 2025. This extension grants NETD additional time to complete its initial merger with e2Companies. To facilitate this extension, Nabors Lux, an associate of Nabors Energy Transition Sponsor II, contributed $250,000 to NETD's trust account for its public shareholders. This payment was made through a non-interest-bearing loan to NETD.
Should NETD successfully finalize a business merger, they will repay the loan from Trust Account proceeds or, as chosen by the Sponsor, convert part or all of the loan into warrants valued at $1.00 each. Conversely, if NETD does not complete the merger, repayment will only occur using funds outside of the Trust Account.
