Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 121

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 121
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 combination that required us to issue more than approximately
20.0% of our issued and outstanding shares, we would seek stockholder approval of such business combination. However, except as required
by applicable law or stock exchange rules, the decision as to whether we will seek stockholder approval of a proposed business combination
or will allow stockholders to sell their shares to us in a tender offer will be made by us, solely in our discretion, and will be based
on a variety of factors such as the timing of the transaction and whether the terms of the transaction would otherwise require
us to seek stockholder approval. Accordingly, we may consummate our initial business combination even if holders of a majority of the
issued and outstanding shares of common stock do not approve of the business combination we consummate. Please see the section entitled
“Item 1. Business—Organizational History and Business—Stockholders may not have the ability to approve our
initial business combination” for additional information.

If we seek stockholder approval of our initial
business combination, our initial stockholders, directors and officers have agreed to vote in favor of such initial business combination,
regardless of how our public stockholders vote.

Unlike some other blank check
companies in which the initial stockholders agree to vote their founder shares in accordance with the majority of the votes cast by the
public stockholders in connection with an initial business combination, our initial stockholders, directors and officers have agreed (and
their respective permitted transferees will agree), pursuant to the terms of a letter agreement entered into with us, to vote their founder
shares, shares included in the private placement units and any public shares held by them in favor of our initial business combination.
As a result, in addition to the founder shares and shares included in the private placement units, we would need only a maximum of 2,107,126
votes, if approval of the transaction required majority voting approval, no votes, assuming the transaction only required the affirmative
vote of a majority of the shares voted at a meeting at which there was a quorum, of the 6,900,000 public shares sold in the IPO to be
voted in favor of an initial business combination in order to have such initial business combination approved. Our directors and officers
have also entered into the letter agreement, imposing similar obligations on them with respect to public shares acquired by them, if any.
Our majority stockholder currently owns approximately 26.8% of the issued and outstanding shares of our common stock.