Nabors invests $35M in Quaise Energy, becomes largest shareholder at 14%

NABORS INDUSTRIES LTD

Issued 391,944 common shares for 5,425,515 Quaise Series B-1 preferred shares at $6.4510/share.
Nabors becomes Quaise's largest shareholder with fully diluted ownership of 14%.
Collar mechanism: if Nabors shares sold by Quaise trade below $33.25M, Nabors issues more shares or cash; above $36.75M, Quaise pays excess.
Nabors PACE-B rig drilling at Quaise's Project Obsidian in Oregon; first phase targets 50 MW, later up to 1 GW.
Exclusivity arrangement for Nabors to provide drilling services for Quaise geothermal projects.

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