HOUSTON, Nov. 17, 2025/ PRNewswire/– Nabors Energy Shift Corp. II (” NETD” or the “Business”) (NASDAQ: NETD) revealed today the outcomes of the remarkable basic conference of its investors hung on November 14, 2025 to vote on propositions to (a) forever extend its outdoors date (the “Indefinite Extension”) and (b) change and reiterate the Business’s trust arrangement to permit the Business (i) to transfer future interest made on the funds kept in the trust account developed in connection with the Business’s going public (the “Trust Account”) into the Business’s operating account from and after the date of such proposed modification and restatement and (ii) to show the Indefinite Extension. The propositions did not get the requisite variety of votes needed to pass, and for that reason, the existing memorandum and short articles of association and trust arrangement stay the same and no modifications will be made.
In connection with the conference, investors holding 8,916,116 Class A normal shares provided as part of the systems in the Business’s going public exercised their right to redeem such shares for a professional rata part of the Trust Account. As an outcome, around $ 101,116,166 (or around $ 11.34 per share) is anticipated to be gotten rid of from the Trust Account to pay such holders on or around November 19, 2025
The Business likewise revealed that it will redeem all of its exceptional Class A normal shares offered as part of the systems in the Business’s going public (whether they were acquired in the going public or afterwards outdoors market) (the “public shares”), reliable since the close of company on December 3, 2025, due to the fact that the Business will not skilled a preliminary company mix within the time duration needed by its 2nd changed and reiterated memorandum and short articles of association (the “Articles”). Pursuant to the Articles, if the Business does not skilled a preliminary company mix by November 18, 2025, the last day of the most current Month-to-month Extension Duration (as specified in the Articles), the Business will, as without delay as fairly possible however not more than 10 company days afterwards, redeem 100% of the general public shares, at a per-share cost, payable in money, equivalent to the aggregate quantity then on deposit in the Trust Account consisting of interest made on the funds kept in the Trust Account not formerly launched to the Business to pay its taxes, divided by the variety of then public shares in concern, which redemption will entirely snuff out public investors’ rights as investors (consisting of the right to get more circulations, if any). The per-share redemption cost for the general public shares is anticipated to be around $ 11.34 (the ” Redemption Quantity”).
The Business prepares for that the general public shares will stop trading since the close of company on November 25, 2025 in order to permit time for the settlement of trades. Since the close of company on December 3, 2025, the general public shares will be considered cancelled and will represent just the right to get the Redemption Quantity.
The Redemption Quantity will be payable to the holders of the general public shares upon discussion of their particular stock or system certificates or other shipment of their shares or systems to the Business’s transfer representative, Continental Stock Transfer & & Trust Business. Beneficial owners of public shares kept in “street name,” nevertheless, will not require to take any action in order to get the Redemption Quantity.
There will be no redemption rights with regard to the Business’s warrants and the Business’s Class F common shares.
The Business anticipates that Nasdaq will submit a Kind 25 with the United States Securities and Exchange Commission (the “SEC”) to delist its securities.
The Business’s board of directors does not plan to liquidate or liquify the Business, and presently prepares for keeping the Business’s presence up until after such time as all payments are gotten under the formerly revealed settlement arrangement and associated notes and dispersed to the Business’s staying investors, web of charges and costs, consisting of loan payments.
About Nabors Energy Shift Corp. II
NETD is a blank check business formed for the function of effecting a merger, amalgamation, share exchange, property acquisition, share purchase, reorganization or comparable company mix with several services or entities.
Positive Declarations
This news release consists of declarations that make up “positive declarations.” Positive declarations undergo many conditions, a lot of which are beyond the control of the Business, consisting of those stated in the Threat Elements area of the Business’s Yearly Report on Type 10-K/A submitted with the SEC on April 2, 2025, consequently submitted Quarterly Reports on Type 10-Q and the Business’s conclusive proxy declaration submitted with the SEC on October 27, 2025, as changed and supplemented on November 3, 2025 Copies are readily available on the SEC’s site, www.sec.gov. The Business carries out no responsibility to upgrade these declarations for modifications or modifications after the date of this release, other than as needed by law.
Financier Relations Contact
William C. Conroy, CFA
+1 281-775-2423
william.conroy@nabors-etcorp.com
SOURCE Nabors Energy Shift Corp.
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