SPAC Nabors Energy Transition and Vast Solar Pty Ltd. today announced the filing of an F-4 registration statement in connection with their proposed business combination.
Announced in February, the deal carries an implied pro forma equity value between $305 million and $586 million, depending on redemptions.
Nabors Energy last week won a shareholder vote granting up to seven more months to complete the Vast Solar deal. The SPAC's sponsor will deposit $295,519.23 for each monthly extension into trust.
There's been no word on redemptions, if any, ahead of the extension vote.
Nabors Energy Transition raised $240 million in a November 2021 ipo.
I the deal wins approval and closes, Vast Solar is expected to trade on the NYSE under the ticker VSTE. Read more.
Source: Nabors Energy Transition and Vast Solar Pty. Ltd. File F-4 Outlining Merger Terms