Company: NOEMW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110040
Chunk: 26

Company: CO2 Energy Transition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 were 6,900,000 rights related to the Initial Public Offering and 265,000 rights related to Private Units,
outstanding.

17

CO2 ENERGY TRANSITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

SEPTEMBER 30, 2025

(Unaudited) 

If the Company is unable
to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders
of rights will not receive any of such funds with respect to their rights, nor will they receive any distribution from the Company’s
assets held outside of the Trust Account with respect to such rights, and the rights will expire worthless. Further, there are no contractual
penalties for failure to deliver securities to the holders of the rights upon consummation of a Business Combination. Additionally, in
no event will the Company be required to net cash settle the rights. Accordingly, the rights may expire worthless.

Warrants —
As of September 30, 2025 and December 31, 2024, the Public Warrants will become exercisable on the later of (a) 30 days after
the completion of a Business Combination and (b) 12 months from the closing of the Initial Public Offering. The Public Warrants
will expire five years from the completion of a Business Combination or earlier upon redemption or liquidation.

No warrants will be exercisable
for cash unless the Company has an effective and current registration statement covering the common stock issuable upon exercise of the
warrants and a current prospectus relating to such common stock. Notwithstanding the foregoing, if a registration statement covering the
common stock issuable upon exercise of the Public Warrants is not effective within 60 business days following the consummation of a Business
Combination, warrant holders may, until such time as there is an effective registration statement and during any period when the Company
shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis pursuant to the exemption provided
by Section 3(a)(9) of the Securities Act, provided that such exemption is available.

Once the Public Warrants
become exercisable, the Company may redeem the Public Warrants for redemption:

●in
whole and not in part;

●at
a price of $0.01 per Public Warrant;

●upon
not less than 30 days’ prior written notice of redemption to each warrant holder;

●if,
and only