Financial Performance - The company had a net loss of $7,427 from April 12, 2023, through June 30, 2023, primarily due to formation and operational costs[92]. - The company does not expect to generate any operating revenues prior to the completion of its Business Combination[91]. - The company incurred expenses related to being a public entity, including legal and financial reporting costs[91]. Initial Public Offering (IPO) - The Initial Public Offering (IPO) generated gross proceeds of $305,000,000 from the sale of 30,500,000 units at $10.00 per unit[94]. - An additional $9,540,000 was raised from the sale of 9,540,000 Private Placement Warrants at $1.00 each[94]. - A total of $308,050,000 was placed in the Trust Account following the IPO, with transaction costs amounting to $17,966,142[96]. Capital Structure and Funding - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2023[102]. - The company intends to use substantially all funds in the Trust Account to complete its initial Business Combination[97]. - The company may need to raise additional capital to finance transaction costs or working capital deficits[101]. - The weighted average shares as of June 30, 2023, were reduced by 1,125,000 Class F ordinary shares subject to forfeiture[107].
Nabors Energy Transition Corp. II(NETDU) - 2023 Q2 - Quarterly Report