Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 6

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 6
---
 subject to all of the risks associated with early stage and emerging growth companies.

As of December 31, 2024,
the Company had not commenced any operations. All activity for the period from September 30, 2021 (inception) through December 31,
2024, relates to the Company’s formation and the initial public offering (the “Initial Public Offering”), which is described
below. The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest.
The Company generates non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering.

The registration statement
for the Company’s Initial Public Offering was declared effective on November 12, 2024. On November 22, 2024, the Company consummated
the Initial Public Offering of 6,900,000 units, with each unit consisting of one share of our common stock, one redeemable warrant, and
one right (the “Units” and, with respect to the shares of common stock included in the Units offered, the “Public Shares”),
which includes the full exercise by the underwriters of their over-allotment option in the amount of 900,000 Units, at $10.00 per Unit,
generating gross proceeds of $69,000,000 which is described in Note 3. Each warrant entitles the holder thereof to purchase one share
of our common stock at a price of $11.50 per share, subject to adjustment as provided herein and each eight rights entitle the holder
thereof to receive one share of common stock at the closing of a business combination.

On November 22, 2024, the
Company consummated the Initial Public Offering of 6,900,000 Units, which includes the full exercise by the underwriters of their over-allotment
option in the amount of 900,000 Units, at $10.00 per Unit, generating gross proceeds of $69,000,000.

Simultaneously with the
closing of the Initial Public Offering, the Company consummated the sale of 265,000 units (the “Private Units”) at a price
of $10.00 per Private Unit in a private placement to the Company’s sponsor, CO2 Energy Transition, LLC (the “Sponsor”),
generating gross proceeds of $2,650,000, which is described in Note 4.

Transaction costs amounted
to $3,423,710 consisting of