Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 178

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 178
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 to investors prior to the date of our redemption or liquidation unless, prior thereto, we consummate our initial business
combination or amend certain provisions of our amended and restated certificate of incorporation and then only in cases where investors
have properly sought to redeem their shares of our common stock. Only upon our redemption or any liquidation will public stockholders
be entitled to distributions if we have not completed our initial business combination within the required time period and do not amend
certain provisions of our amended and restated certificate of incorporation prior thereto.

Our stockholders may be held liable for
claims by third parties against us to the extent of distributions received by them upon redemption of their shares.

Under the DGCL, stockholders
may be held liable for claims by third parties against a corporation to the extent of distributions received by them in a dissolution.
The pro rata portion of our trust account distributed to our public stockholders upon the redemption of our public shares in the event
we do not complete our initial business combination within 18 months of the closing of our IPO (or up to 24 months from the
closing of our IPO if we extend the period of time to consummate a business combination, as described in more detail in this Report) may
be considered a liquidating distribution under Delaware law. If a corporation complies with certain procedures set forth in Section 280
of the DGCL intended to ensure that it makes reasonable provision for all claims against it, including a 60-day notice period during
which any third-party claims can be brought against the corporation, a 90-day period during which the corporation may reject
any claims brought, and an additional 120-day waiting period before any liquidating distributions are made to stockholders, any liability
of stockholders with respect to a liquidating distribution is limited to the lesser of such stockholder’s pro rata share of the
claim or the amount distributed to the stockholder, and any liability of the stockholder would be barred after the third anniversary of
the dissolution. However, it is our intention to redeem our public shares as soon as reasonably possible following the 24th month
from the closing of our IPO in the event we do not complete our initial business combination and, therefore, we do not intend to comply
with the foregoing procedures.

56

Because we do not intend to
comply with Section 280, Section 281(b) of the DGCL requires us to adopt a plan, based on facts