Vast, Nabors completes merger

The business agreement was signed last February 2023.

Australia-based Vast Renewables Limited and Nabors Energy Transition Corp. (NETC) have completed their business combination.

In a joint statement, the companies said NETC “merged with and into a wholly-owned subsidiary of Vast.

As such, NETC’s shares of Class A common stock, warrants to purchase shares of Class A common stock, and units consisting of one share of Class A common stock and one-half of one redeemable warrant stopped trading and were delisted from the New York Stock Exchange as of 19 December.

 “We believe that the completion of the transaction and our status as a new public company will help facilitate our ambitious growth plans to bring low-cost, zero carbon, dispatchable energy to the world,” said Vast CEO Craig Wood.