Nabors Industries Ltd. Enters Material Definitive Agreement
Ticker: NBRWF · Form: 8-K · Filed: Oct 15, 2024 · CIK: 1163739
| Field | Detail |
|---|---|
| Company | Nabors Industries LTD (NBRWF) |
| Form Type | 8-K |
| Filed Date | Oct 15, 2024 |
| Risk Level | medium |
| Pages | 13 |
| Reading Time | 16 min |
| Key Dollar Amounts | $0.01, $0.05, $99.62, $42.70, $478,176,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, contract
TL;DR
Nabors signed a big deal, details TBD.
AI Summary
On October 14, 2024, Nabors Industries Ltd. entered into a material definitive agreement. The filing does not disclose specific details of the agreement, the counterparty, or any associated financial figures.
Why It Matters
This filing indicates a significant new contract or partnership for Nabors Industries, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement.
Key Players & Entities
- Nabors Industries Ltd. (company) — Registrant
FAQ
What is the nature of the material definitive agreement entered into by Nabors Industries Ltd.?
The filing does not specify the nature of the agreement.
Who is the counterparty to this material definitive agreement?
The filing does not disclose the identity of the counterparty.
What is the effective date of this material definitive agreement?
The earliest event reported is October 14, 2024.
Are there any financial terms or obligations associated with this agreement disclosed in the filing?
No financial terms or obligations are disclosed in this filing.
Does this agreement represent a new contract, partnership, or acquisition for Nabors Industries Ltd.?
The filing states it is an 'Entry into a Material Definitive Agreement' but does not specify the type.
Filing Stats: 3,946 words · 16 min read · ~13 pages · Grade level 17.9 · Accepted 2024-10-15 17:28:07
Key Financial Figures
- $0.01 — re of common stock of Parker, par value $0.01 per share (the " Parker Common Stock ")
- $0.05 — e of one Nabors common share, par value $0.05 per share (the " Nabors Common Shares "
- $99.62 — g Price ") is (i) less than or equal to $99.62 (the " Upper Collar Price ") and (ii) g
- $42.70 — ce ") and (ii) greater than or equal to $42.70 (the " Lower Collar Price "), then the
- $478,176,000 — number of Nabors Common Shares equal to $478,176,000 divided by the Closing Price; and if
- $204,960,000 m — an amount of cash which will equal (i) $204,960,000 minus (ii) (A) 4,800,000 multiplied by (B
- $10,000,000 — ired to pay Nabors a termination fee of $10,000,000. The Merger Agreement also provides tha
Filing Documents
- tm2426117d1_8k.htm (8-K) — 67KB
- tm2426117d1_ex2-1.htm (EX-2.1) — 815KB
- tm2426117d1_ex2-2.htm (EX-2.2) — 65KB
- tm2426117d1_ex2-3.htm (EX-2.3) — 87KB
- tm2426117d1_ex2-4.htm (EX-2.4) — 98KB
- tm2426117d1_ex2-5.htm (EX-2.5) — 93KB
- tm2426117d1_ex2-6.htm (EX-2.6) — 93KB
- tm2426117d1_ex99-1.htm (EX-99.1) — 30KB
- tm2426117d1_ex99-2.htm (EX-99.2) — 32KB
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- tm2426117d1_ex99-2img018.jpg (GRAPHIC) — 16KB
- 0001104659-24-108681.txt ( ) — 3516KB
- nbr-20241014.xsd (EX-101.SCH) — 3KB
- nbr-20241014_lab.xml (EX-101.LAB) — 33KB
- nbr-20241014_pre.xml (EX-101.PRE) — 22KB
- tm2426117d1_8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 2.1 Agreement and Plan of Merger, dated as of October 14 2024, by and among Nabors Industries Ltd., Nabors SubA Corporation, Parker Drilling Company and Vrde Partners, Inc., solely in its capacity as the Stockholder Representative* 2.2 Voting and Support Agreement, dated as of October 14, 2024, by and among the Supporting Stockholders and Nabors 2.3 Form of Voting and Lock-Up Agreement, dated as of October 14, 2024, by and among certain Supporting Stockholders and Nabors 2.4 Form of Voting and Lock-Up Agreement, dated as of October 14, 2024, by and among certain Supporting Stockholders and Nabors 2.5 Form of Voting and Lock-Up Agreement, dated as of October 14, 2024, by and among certain Supporting Stockholders and Nabors 2.6 Form of Voting and Lock-Up Agreement, dated as of October 14, 2024, by and among certain Supporting Stockholders and Nabors 99.1 Press Release, dated October 15, 2024 99.2 Investor Presentation, dated October 15, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * The schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. Nabors agrees to furnish supplementally a copy of such schedules and exhibits, or any section thereof, to the SEC upon request. Cautionary Statement Regarding Forward-Looking Statements This communication includes forward-looking statements within the meaning of the Securities Act and the Securities Exchange Act of 1934. Words such as "expects," "believes," "may," "should," "will," "intends," "projects," "plans," "estimates," "targets," "anticipates," and other similar words or expressions, or the negative thereof, generally can be used to help identify these forward-looking statements. Such forward-looking
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. NABORS INDUSTRIES LTD. Date: October 15, 2024 By: /s/ Mark D. Andrews Name: Mark D. Andrews Title: Corporate Secretary