Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 99

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 99
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 These quorums and voting thresholds and agreements, may
make it more likely that we will consummate our initial business combination. Each public stockholder may elect to redeem its public shares
without voting, and if they do vote, irrespective of whether they vote for or against the proposed transaction. In addition, our initial
stockholders, directors and officers have entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption
rights with respect to any founder shares and any public shares held by them in connection with the completion of a business combination.

Redemptions of our public shares
may be subject to a limit due to any minimum cash requirement pursuant to an agreement relating to our initial business combination. For
example, the proposed business combination may require: (1) cash consideration to be paid to the target or its owners; (2) cash
to be transferred to the target for working capital or other general corporate purposes; or (3) the retention of cash to satisfy
other conditions in accordance with the terms of the proposed business combination. In the event the aggregate cash consideration we would
be required to pay for all public shares that are validly submitted for redemption plus any amount required to satisfy cash conditions
pursuant to the terms of the proposed business combination exceed the aggregate amount of cash available to us, we will not complete the
business combination or redeem any shares, and all shares of common stock submitted for redemption will be returned to the holders thereof,
and we instead may search for an alternate business combination.

15

Limitation on redemption upon completion of
our initial business combination if we seek stockholder approval

Notwithstanding the foregoing
redemption rights, if we seek stockholder approval of our initial business combination and we do not conduct redemptions in connection
with our initial business combination pursuant to the tender offer rules, our amended and restated certificate of incorporation provides
that a public stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in
concert or as a “group” (as defined under Section 13 of the Exchange Act), will be restricted from redeeming
its shares with respect to more than an aggregate of 15% of the shares sold in our IPO, which we refer to as the “Excess Shares,”
without our prior consent.

We believe this restriction
will discourage stockholders from accumulating large blocks of shares, and subsequent attempts by such holders to use their ability to
exercise their redemption