Nabors Energy Transition Corp.: debt financing — Nabors Energy Transition Corp. extends deadline to complete Vast business combination to Dec 18, 2023

Nabors Energy Transition Corp.

Board extended deadline to consummate business combination with Vast Renewables from Nov 18 to Dec 18, 2023.
Nabors Lux deposited $295,519.23 into trust account to fund the extension.
Deposit loaned via non-interest-bearing promissory note; repayment from trust or conversion to warrants at $1/warrant.
Note due upon business combination close or liquidation; if no deal, repaid from funds outside trust.

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 0.9

Nabors Energy Transition Corp. incurred loan of $295,519.23 with Nabors Lux 2 S.a.r.l. 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: $295,519.23
Counterparty: Nabors Lux 2 S.a.r.l.
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

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 $295,519.23 in connection with the Extension (as defined below). Nabors Lux is an affiliate of Nabors Energy Transition Sponsor LLC (the “Sponsor”). The Note bears no interest and is due and

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Nabors Energy Transition Corp. entered into Note with Nabors Lux 2 S.a.r.l. valued at $295,519.23 (effective 2023-11-17).

Action: entry
Agreement: notes offering
Counterparty: Nabors Lux 2 S.a.r.l.
Value: $295,519.23
Effective: 2023-11-17

Exact text from the filing

On November 17, 2023, the Company issued an unsecured promissory note (the “Note”) to 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 $295,519.23

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Source: SEC EDGAR

accession 0001104659-23-119607

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