Nabors Energy Transition Corp. II (NETD) is a SPAC sponsored by Nabors Industries, a publicly traded oilfield services company. The SPAC raised ~$305M in its July 2023 IPO on Nasdaq, with proceeds held in trust, and is focused on acquiring a company in the energy transition space — specifically businesses in alternative energy, energy storage, carbon capture, and emissions reduction. As of February 2025, NETD has signed a definitive merger agreement with e2, a Florida-based private company, which would be renamed e2Companies upon closing, subject to shareholder approval. The SPAC model gives public shareholders the option to redeem shares at ~$10.10 per share or retain shares in the combined company; if no deal closes by the 24-month deadline, the trust is liquidated and funds are returned to shareholders. Nabors' sponsorship is central to NETD's pitch — Nabors brings a global operational footprint, relationships with major energy companies including Saudi Aramco, ExxonMobil, and Chevron, manufacturing capacity through its Canrig unit, and prior energy transition investments. This is Nabors' second energy transition SPAC; its first, NETC I, raised ~$276M in 2021 and merged with Vast Renewables in December 2023.