Nabors Energy Transition Corp. II has announced an extension of the deadline to complete its business combination with e2Companies LLC.
The deadline has been extended from August 18, 2025, to September 18, 2025, providing the company with additional time for the transaction.
The extension was made in accordance with the company's memorandum and articles of association.
Extension of Deadline
The board of directors extended the business combination deadline by one month.
Extension Payment
An affiliate of the Sponsor deposited $250,000 into NETD's trust account to facilitate the extension.
Loan Repayment
If the business combination is completed, the loan will be repaid from the proceeds or converted to warrants.
Focus on Energy Transition
NETD aims to merge with businesses contributing to energy transition, focusing on carbon reduction and energy consumption globally.
- The extension allows NETD more time to finalize the business combination, indicating ongoing progress in the deal.
- The loan structure highlights the financial arrangements to fund the extension without impacting shareholder funds.
The extension of the deadline reflects NETD's commitment to completing a successful business combination in the energy transition sector. Shareholders and investors can monitor the progress of the upcoming transaction.