Nabors Energy Transition Corp. (NETC.U) Prices Upsized $240M IPO


Nabors Energy Transition Corp. (NETC.U) Prices Upsized $240M IPO

Nov 16, 2021 IPOs by Marlena Haddad

Nabors Energy Transition Corp. announced the pricing of its upsized $240 million IPO and its units are expected to begin trading on the NYSE under the symbol “NETC.U” Wednesday, November 17.

The new SPAC intends to identify solutions, opportunities, companies, or technologies that focus on advancing the energy transition; specifically, ones that facilitate, improve or complement the reduction of carbon or greenhouse gas emissions while satisfying growing energy consumption across markets globally. Nabors Energy Transition Corp. is led by President, Chief Executive Officer, Secretary and Chairman Anthony G. Petrello, Chief Financial Officer William J. Restrepo, VP of Energy Transition Guillermo Sierra, and President of Engineering and Technology Siggi Meisner.

Total SPAC deal count for 2021 year-to-date is now 544 This offering is expected to close on Friday, November 19.

Citigroup and Wells Fargo Securities are acting as joint book-running managers and representatives of the underwriters for the IPO. Vinson & Elkins L.L.P. is serving as Issuer’s Counsel with Cravath, Swaine & Moore LLP serving as Underwriter’s Counsel. Ham, Langston & Brezina, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.