BRIEF-Vast, A Market-Leading Concentrated Solar Power (CSP) Company, To Go Public Through Business Combination With Nabors Energy Transition Corp. Combined Company Expected To Be Listed On The New York Stock Exchange

Reuters
2023-02-14

Feb 14 (Reuters) - Nabors Energy Transition Corp

:

* VAST, A MARKET-LEADING CONCENTRATED SOLAR POWER $(CSP)$ COMPANY, TO GO PUBLIC THROUGH BUSINESS COMBINATION WITH NABORS ENERGY TRANSITION CORP.; COMBINED COMPANY EXPECTED TO BE LISTED ON THE NEW YORK STOCK EXCHANGE

* NABORS ENERGY TRANSITION CORP - IMPLIED EQUITY VALUE OF COMBINED CO WILL BE BETWEEN ABOUT USD $305 MILLION AND $586 MILLION DEPENDING ON LEVEL OF REDEMPTIONS

* NABORS ENERGY TRANSITION CORP - VAST IS EXPECTED TO REMAIN HEADQUARTERED IN SYDNEY, AUSTRALIA

* NABORS ENERGY TRANSITION CORP - VAST TO BECOME A PUBLICLY-LISTED COMPANY ON NYSE UNDER TICKER SYMBOL "VSTE"

* NABORS ENERGY TRANSITION CORP - AGCENTRAL ENERGY AND MANAGEMENT WILL ROLL 100% OF THEIR INTERESTS IN VAST INTO COMBINED COMPANY

* NABORS ENERGY TRANSITION CORP - AGCENTRAL ENERGY AND MANAGEMENT WILL ROLL 100% OF THEIR INTERESTS IN VAST INTO COMBINED COMPANY

* NABORS ENERGY TRANSITION CORP - VAST'S EXISTING MANAGEMENT TEAM WILL CONTINUE TO LEAD CO FOLLOWING COMPLETION OF DEAL

* NABORS ENERGY TRANSITION CORP - DEAL EXPECTED TO PROVIDE GROSS PROCEEDS OF UP TO USD $351 MILLION TO VAST

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