Nabors Industries Announces Notice to Warrant Holders

Rhea-AI Summary

Nabors Industries Ltd. (NYSE: NBR) announced that effective April 25, 2022, Warrant holders will no longer receive incentive shares upon exercising their Warrants as per the Warrant Agreement dated June 10, 2021. This change is in compliance with Section 3.02 of the agreement. Nabors is a key player in the energy sector, leveraging advanced technology across over 15 countries to foster safe and efficient energy production while driving the transition to a lower carbon future.

Positive

• Nabors operates in over 15 countries, indicating strong global presence.
• The company focuses on advanced technology and innovation in the energy sector.

Negative

• Warrant holders will lose the incentive of additional shares when exercising Warrants.

HAMILTON, Bermuda, March 28, 2022 /PRNewswire/ -- On June 11, 2021, Nabors Industries Ltd. ("Nabors") (NYSE: NBR) issued Warrants ("Warrants") to all holders of Nabors' common shares ("Common Shares") to purchase Common Shares pursuant to a Warrant Agreement (the "Warrant Agreement") dated as of June 10, 2021 between Nabors and Computershare Trust Company, N.A.

Nabors, in compliance with Section 3.02 of the Warrant Agreement, hereby notifies Warrant holders that effective as of Monday, April 25, 2022, Warrant holders will no longer be entitled to receive any incentive shares when exercising the Warrants. 

About Nabors Industries

Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With operations in more than 15 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower carbon world. Learn more about Nabors and its energy technology leadership: www.nabors.com.

Investor Contacts:

For further information regarding Nabors, please contact William C. Conroy, CFA, Vice President of Corporate Development & Investor Relations, +1 281-775-2423 or via e-mail william.conroy@nabors.com, or Kara Peak, Director of Corporate Development & Investor Relations, +1 281-775-4954 or via email kara.peak@nabors.com.

 

View original content:https://www.prnewswire.com/news-releases/nabors-industries-announces-notice-to-warrant-holders-301511456.html

SOURCE Nabors Industries Ltd.

FAQ

What changes were announced for Nabors Industries' Warrants on April 25, 2022?

Nabors Industries announced that Warrant holders will no longer receive incentive shares when exercising their Warrants effective April 25, 2022.

When were the Warrants issued by Nabors Industries?

The Warrants were issued on June 11, 2021.

What is the significance of the Warrant Agreement dated June 10, 2021, for Nabors Industries?

The Warrant Agreement outlines the terms under which Warrants can be exercised, including the recent change regarding incentive shares.