Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 933

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 933
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 Company had incurred $3,667 of administrative services
fees which was included in accrued expenses line in the accompanying balance sheet.

Our sponsor, directors and
officers, or any of their respective affiliates, will be reimbursed for any out- of-pocket expenses incurred in connection with activities
on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit
committee will review on a quarterly basis all payments that were made to our sponsor, directors, officers or our or any of their respective
affiliates and will determine which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on the reimbursement
of out-of-pocket expenses incurred by such persons in connection with activities on our behalf.

In order to finance transaction
costs in connection with an initial business combination, the sponsor or an affiliate of the sponsor, or certain of the Company’s
officers and directors may, but are not obligated to, loan the Company funds as may be required. If the Company completes an initial business
combination, the Company would repay the Working Capital Loans out of the proceeds of the trust account released to the Company. Otherwise,
the Working Capital Loans would be repaid only out of funds held outside the trust account. In the event that an initial business combination
does not close, the Company may use a portion of proceeds held outside the trust account to repay the Working Capital Loans, but no proceeds
held in the trust account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital
Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either
be repaid upon consummation of an initial business combination, without interest, or, at the lender’s discretion, up to $1,500,000
of such Working Capital Loans may be convertible into units at a price of $10.00 per unit. The units would be identical to the private
placement units. As of December 31, 2024 and December 31, 2023, no such Working Capital Loans were outstanding.

After our initial business
combination, members of our management team who remain with us may be paid consulting, management or other fees from the combined company
with any and all amounts being fully disclosed to our stockholders, to the extent then known, in the tender offer or proxy solicitation
materials, as applicable, furnished to our stockholders.