Nabors Energy Transition Sponsor LLC - Nov 16, 2021 Form 3 Insider Report for Nabors Energy Transition Corp. (NETC)

Role
10%+ Owner
Signature
/s/ Nabors Energy Transition Sponsor LLC, by Anthony G. Petrello, President, Chief Executive Officer and Secretary
Stock symbol
NETC
Transactions as of
Nov 16, 2021
Transactions value $
$0
Form type
3
Date filed
11/16/2021, 08:09 PM
Next filing
Dec 19, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding NETC Class F Common Stock Nov 16, 2021 Class B Common Stock 6.73M See footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares of Class F Common Stock are automatically convertible into shares of the Issuer's Class B Common Stock at the time of the Issuer's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, and have no expiration date. Prior to and following the Issuer's initial business combination, the shares of Class B Common Stock will be convertible, at the option of the holder, into shares of the Issuer's Class A Common Stock.
F2 Includes 900,000 shares of Class F Common Stock that are subject to forfeiture if the underwriters in the Issuer's initial public offering of units do not exercise their over-allotment option in full.
F3 Nabors Energy Transition Sponsor LLC (the "Sponsor") is the record holder of the shares reported herein. The Sponsor is owned by Nabors Lux 2 S.a.r.l. and Greens Road Energy LLC, a Delaware limited liability company ("Greens Road"). Nabors Lux 2 S.a.r.l. is a wholly owned subsidiary of Nabors Industries Ltd., an affiliate of the Sponsor ("Nabors"). Mr. Petrello is the Chairman, President and Chief Executive Officer of Nabors. Greens Road is controlled by Anthony G. Petrello. As such, Nabors Lux 2 S.a.r.l., Greens Road and Anthony G. Petrello may be deemed to have or share beneficial ownership of the common stock held directly by the Sponsor.