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HOUSTON - Nabors Energy Transition Corp. II (NASDAQ:NETD), currently trading at $11.25 and near its 52-week high of $11.47, announced Friday it has extended the deadline to complete its previously announced business combination with e2Companies LLC by one month, from August 18 to September 18, 2025.
In connection with the extension, Nabors Lux 2 S.a.r.l., an affiliate of the company’s sponsor, deposited $250,000 into NETD’s trust account for public shareholders. The funds were provided through a non-interest-bearing loan. With a strong current ratio of 2.96, InvestingPro data shows NETD maintains healthy liquidity to meet its short-term obligations.
If the business combination is completed, NETD will repay the loan from trust account proceeds, or the sponsor may convert all or part of the loan into warrants at $1.00 per warrant. These warrants would be identical to those issued in NETD’s initial public offering private placement. If no business combination occurs, the loan will be repaid only from funds held outside the trust account.
NETD is a special purpose acquisition company that focuses on businesses advancing energy transition, particularly those that reduce carbon or greenhouse gas emissions while meeting growing global energy demands. With a market capitalization of $430.43 million and trading at a price-to-book ratio of 0.75, InvestingPro analysis suggests the stock may be undervalued relative to its Fair Value. Unlock additional insights and 6 more exclusive ProTips with an InvestingPro subscription.
The company and e2Companies previously announced their business combination agreement on February 11, 2025. According to a press release statement, both companies plan to file registration documents with the Securities and Exchange Commission, including a proxy statement and prospectus related to the proposed transaction.
NETD was formed to effect a merger, share exchange, asset acquisition or similar business combination with one or more businesses in the energy transition sector.
In other recent news, Nabors Energy Transition Corp. II has received shareholder approval to extend the deadline for completing its initial business combination. This extension allows the company to push the completion date from July 18, 2025, to as late as July 18, 2026. The company plans to use this extended timeline to finalize its business combination with e2Companies LLC. To facilitate each monthly extension, Nabors Energy Transition Corp. II will deposit $250,000 into its trust account for public shareholders. This development aims to provide the necessary time to complete the business combination process. The shareholders’ approval reflects their support for the extended timeline. The company announced this decision as part of its ongoing efforts to advance its strategic objectives.
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