Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 350

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 350
---
 Relationships and Related Transactions and Director Independence”).
These holders will be entitled to certain demand and “piggy-back” registration rights. We will bear the expenses incurred
in connection with the filing of any such registration statements.

Underwriting Agreement

The underwriters were entitled
to a cash underwriting discount of 0.75% of the gross proceeds of the Initial Public Offering, or $517,500, which was paid upon the closing
of the Initial Public Offering. Additionally, the underwriters are entitled to a deferred underwriting discount of 3.00% of the gross
proceeds of the Initial Public Offering, or $2,070,000, payable upon the closing of an initial business combination from the amounts
held in the trust account, as well as 120,750 representative shares with the fair value of $77,268 issued to the underwriters in connection
with closing of the Initial Public Offering.

The deferred fee will become
payable to the underwriter from the amounts held in the trust account solely in the event that the Company completes an initial business
combination, subject to the terms of the underwriting agreement.

65

JOBS Act

The JOBS Act contains provisions
that, among other things, relax certain reporting requirements for qualifying public companies. We qualify as an “emerging growth
company” and under the JOBS Act are allowed to comply with new or revised accounting pronouncements based on the effective
date for private (not publicly-traded) companies. We are electing to delay the adoption of new or revised accounting standards, and as
a result, we may not comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required
for non-emerging growth companies. As a result, the financial statements may not be comparable to companies that comply with new or revised
accounting pronouncements as of public company effective dates.

Additionally, subject to
certain conditions set forth in the JOBS Act, if, as an “emerging growth company,” we plan to rely on rules which
allow us to, among other things, delay the required (i) provision of an auditor’s attestation report on our system of internal
controls over financial reporting pursuant to Section 404, (ii) provision of all of the compensation disclosure that may be required
of non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act, (iii) compliance with any
requirement that may be adopted by the Public Company Accounting Oversight