2023-06-22 10:01:44 ET
-
Nabors ( NYSE: NBR ) said Thursday that its newly formed SPAC, Nabors Energy Transition Corp. II, intends to raise $300 million through an initial public offering.
-
The company said NETD has filed a registration statement on Form S-1 with the SEC for a proposed IPO of its units.
-
NETD intends to list its units on the Nasdaq under the symbol "NETDU."
-
"NETD intends to facilitate, improve or complement the ongoing global energy sector's shift from fossil-based systems of energy production and consumption to renewable energy sources," the company said in a statement.
-
Each unit will consist of one Class A ordinary share of NETD and one-half of one redeemable warrant to purchase one Class A ordinary share of NETD.
-
The new SPAC will be managed by Nabors' CEO, CFO, and other senior executives.
-
Shares -5.5% at $95.78.
For further details see:
Nabors files registration for a proposed $300M clean energy SPAC