Nabors Energy Transition Corp. II Merges with e2Companies

The latest update is out from Nabors Energy Transition Corp. II Class A ( (NETD) ).

On February 11, 2025, Nabors Energy Transition Corp. II and e2Companies LLC entered into a business combination agreement, aiming to merge e2 as a wholly owned subsidiary of NETD and rebrand as e2Companies, Inc. This transaction, expected to close in Q3 2025, will allow e2 to become a publicly-listed company on Nasdaq under the ticker symbol ‘VUTL’. The merger is projected to yield approximately $400 million in gross proceeds and values e2 at a pre-money equity value of $500 million. e2’s existing shareholders will roll their equity into the new entity, and the transaction is anticipated to bolster e2’s ability to capitalize on its robust customer pipeline, providing strategic opportunities in the energy markets. The collaboration with Nabors is expected to enhance e2’s market reach in the oilfield and energy sectors by leveraging Nabors’ industry expertise.

More about Nabors Energy Transition Corp. II Class A

e2Companies LLC is an innovative provider of integrated solutions for on-site power generation, distribution, and energy cost-optimization. It has developed the industry’s first Virtual Utility® platform that combines hardware and AI-enabled software solutions to deliver uninterruptible and efficient power to critical industries like manufacturing, data centers, oil & gas, and healthcare. e2’s patented R3Di® System allows for flexible power generation without a grid connection, and its Grove365® platform uses AI for grid response optimization. The company has demonstrated significant revenue growth and has a diverse business model offering equipment sales, energy service agreements, and grid monitoring services.

YTD Price Performance: 0.56%

Average Trading Volume: 40,170

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $415.2M

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