Nabors Energy Transition Corp.: debt financing — Nabors Energy Transition Corp. extends Vast Solar deal deadline to August 18, 2023

Nabors Energy Transition Corp.

Extension from May 18 to August 18, 2023 to complete business combination with Vast Solar.
Affiliates deposited $886,557.69 into trust account to fund the extension.
Loans are non-interest-bearing; if business closes, may be converted to warrants at $1.00 per warrant.
Extension provides NETC additional time to complete previously announced initial business combination.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Nabors Energy Transition Corp. incurred loan of $886,557.69 with Nabors Lux 2 S.a.r.l. and Greens Road Energy LLC at no interest maturing upon the earlier to occur of (i) the date on which the Company consummates its initial business combination and (ii) the liquidation of the Company on or before.

Instrument: loan
Principal: $886,557.69
Counterparty: Nabors Lux 2 S.a.r.l. and Greens Road Energy LLC
Rate: no interest
Maturity: upon the earlier to occur of (i) the date on which the Company consummates its initial business combination and (ii) the liquidation of the Company on or before
Event: incurrence

Exact text from the filing

the Company issued an unsecured promissory note to each of (i) Nabors Lux 2 S.a.r.l., a private limited liability company (société à responsabilité limitée) incorporated in the Grand Duchy of Luxembourg (“Nabors Lux”), in the principal amount of $487,606.73 and (ii) Greens Road Energy LLC, a Delaware limited liability company (“Greens Road”), in the principal amount of $398,950.96 (together, the “Notes”), for an aggregate principal amount of $886,557.69 in connection with the Extension

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Nabors Energy Transition Corp. entered into Notes with Nabors Lux 2 S.a.r.l. and Greens Road Energy LLC valued at an aggregate principal amount of $886,557.69 (effective 2023-05-17).

Action: entry
Agreement: notes offering
Counterparty: Nabors Lux 2 S.a.r.l. and Greens Road Energy LLC
Value: an aggregate principal amount of $886,557.69
Effective: 2023-05-17

Exact text from the filing

On May 17, 2023, the Company issued an unsecured promissory note to each of (i) Nabors Lux 2 S.a.r.l., a private limited liability company (société à responsabilité limitée) incorporated in the Grand Duchy of Luxembourg ("Nabors Lux"), in the principal amount of $487,606.73 and (ii) Greens Road Energy LLC, a Delaware limited liability company ("Greens Road"), in the principal amount of $398,950.96 (together, the "Notes"), for an aggregate principal amount of $886,557.69

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Source: SEC EDGAR

accession 0001104659-23-062006

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