--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-23-059789" form_type: "8-K" ticker: null cik: "0001854458" company_name: "Nabors Energy Transition Corp." filed_at: "2023-05-12T23:59:59+00:00" generated_at: "2026-06-15T02:48:52.393286+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 0.75 calibrated_materiality_score: 0.75 confidence: "high" source: SEC EDGAR --- # NETC stockholders approve up to 7-month extension; over 17.7M shares redeemed for $186.9M ## Summary - Stockholders approved charter amendment allowing board to extend deadline up to 7 months, with $295,519.23 deposit per month. - Holders of 17,749,359 public shares (51.4% of outstanding) requested redemption, totaling ~$186.9M (approx $10.53/share). - Trust account funds of ~$186.9M to be removed for redemption; remaining trust balance reduced accordingly. - Extension provides additional time to close the previously announced business combination with Vast Solar Pty Ltd. - All four proposals approved with over 29M votes each; AR IMTA executed to reflect monthly extension option. ## SEC filing metadata - accession: 0001104659-23-059789 - form_type: 8-K - cik: 0001854458 - company_name: Nabors Energy Transition Corp. - filed_at: 2023-05-12T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 0.75 - calibrated_materiality_score: 0.75 - confidence: high - sec_items: 1.01, 5.03, 5.07, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1854458/000110465923059789/0001104659-23-059789-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1854458/000110465923059789/tm2315607d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-23-059789 - JSON: https://secwatch.observer/filing/0001104659-23-059789.json - Plain text: https://secwatch.observer/filing/0001104659-23-059789.txt ## Key facts - Governance Changes Nabors Energy Transition Corp.: Amended charter to allow board to extend business combination deadline up to seven one-month periods and to remove redemption limitation (effective 2023-05-12). - Change: charter amendment - Effective: 2023-05-12 source text: As approved by the Company’s stockholders at the Special Meeting, the Company filed its second amended and restated certificate of incorporation (the “Amended Charter”) with the Secretary of State of the State of Delaware on May 12, 2023 in order to implement the Monthly Extension Option and to remove the Redemption Limitation (as defined below). evidence_url: https://www.sec.gov/Archives/edgar/data/1854458/000110465923059789/0001104659-23-059789-index.htm - Material Agreements Nabors Energy Transition Corp. amended Amended and Restated Investment Management Trust Agreement with Continental Stock Transfer & Trust Company (effective 2023-05-12). - Action: amendment - Counterparty: Continental Stock Transfer & Trust Company - Effective: 2023-05-12 source text: the Company and Continental Stock Transfer & Trust Company entered into the Amended and Restated Investment Management Trust Agreement, dated as of May 12, 2023 evidence_url: https://www.sec.gov/Archives/edgar/data/1854458/000110465923059789/0001104659-23-059789-index.htm - Shareholder Votes Nabors Energy Transition Corp. shareholders approved Approval of adjournment of special meeting if necessary at the 2023-05-11 meeting. - Outcome: passed - Meeting: 2023-05-11 source text: Proposal No. 4 – The Adjournment Proposal The stockholders approved the adjournment of the Special Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Special Meeting, there are insufficient shares of Class A Common Stock, shares of Class B common stock, par value $0.0001 per share, and shares of Class F common stock, par value $0.0001 per share, in the capital of the Company represented (either virtually or by proxy) to constitute a quorum necessary to conduct business at the Special Meeting or at the time of the Special Meeting to approve the Extension Amendment Proposal, the Trust Amendment Proposal or the Redemption Limitation Amendment Proposal . The voting results were as follows: Votes For Votes Against Abstentions 29,118,247 607,053 100 evidence_url: https://www.sec.gov/Archives/edgar/data/1854458/000110465923059789/0001104659-23-059789-index.htm - Shareholder Votes Nabors Energy Transition Corp. shareholders approved Approval of amendment to charter to eliminate redemption limitation at the 2023-05-11 meeting. - Proposal: charter amendment - Outcome: passed - Meeting: 2023-05-11 source text: Proposal No. 3 – The Redemption Limitation Amendment Proposal The stockholders approved and adopted the Amended Charter to eliminate (i) the limitation that the Company shall not redeem its Public Stock to the extent that such redemption would result in the Class A Common Stock, or the securities of any entity that succeeds the Company as a public company, becoming “penny stock” (as defined in accordance with Rule 3a51-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), or cause the Company to not meet any greater net tangible asset or cash requirement which may be contained in the agreement relating to an Initial Business Combination (the “Redemption Limitation”) and (ii) the limitation that the Company shall not consummate an Initial Business Combination if the Redemption Limitation is exceeded (the “Redemption Limitation Amendment Proposal”) . The voting results were as follows: Votes For Votes Against Abstentions 29,194,789 530,511 100 evidence_url: https://www.sec.gov/Archives/edgar/data/1854458/000110465923059789/0001104659-23-059789-index.htm - Shareholder Votes Nabors Energy Transition Corp. shareholders approved Approval of amendment to allow extension of deadline to consummate business combination at the 2023-05-11 meeting. - Proposal: merger approval - Outcome: passed - Meeting: 2023-05-11 source text: Proposal No. 1 – The Extension Amendment Proposal The stockholders approved and adopted the Amended Charter to allow the Company’s board of directors, without another stockholder vote, to elect to extend the date by which the Company has to consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination, involving the Company and one or more businesses or entities (an “Initial Business Combination”) up to seven times for an additional one month each time (each such month, a “Monthly Extension Period”) (but in no event to a date later than 25 months from the closing of the Company’s initial public offering (the “IPO”)), provided, that Nabors Energy Transition Sponsor LLC, a Delaware limited liability company (the “Sponsor”) (or its affiliates or designees), deposits into the trust account (the “Trust Account”) established in connection with the IPO, for each Monthly Extension Period, an amount equal to the lesser of (x) $300 evidence_url: https://www.sec.gov/Archives/edgar/data/1854458/000110465923059789/0001104659-23-059789-index.htm - Shareholder Votes Nabors Energy Transition Corp. shareholders approved Approval of amendment to trust agreement to reflect monthly extension option at the 2023-05-11 meeting. - Outcome: passed - Meeting: 2023-05-11 source text: Proposal No. 2 – The Trust Amendment Proposal The stockholders approved and adopted the AR IMTA to reflect the Monthly Extension Option (the “Trust Amendment Proposal”). The voting results were as follows: Votes For Votes Against Abstentions 29,195,900 529,500 0 evidence_url: https://www.sec.gov/Archives/edgar/data/1854458/000110465923059789/0001104659-23-059789-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.