Nabors Energy Transition Corp. announced that it has issued an unsecured promissory note for an aggregate gross proceeds of $886,557.69 on May 17, 2023. The transaction included participation from Greens Road Energy Llc for $398,950.96 and Nabors Lux 2 Sarl for $487,606.73.

The notes bear no interest and each is due and payable upon the earlier to occur of the date on which the company consummates its initial business combination and the liquidation of the company on or before August 18, 2023, unless such date is extended. The investor may convert the note into warrants of the company.