Company: NOEMW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042720
Chunk: 72

Company: CO2 Energy Transition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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 as applicable, the “Maturity
Date”), unless accelerated upon the occurrence of an Event of Default (as defined in the Working Capital Note).

Amounts outstanding under
the Working Capital Note, are convertible, at the option of the Sponsor, into units of the Company (“Working Capital Note Units”),
at a conversion price of $10.00 per Working Capital Note Unit. The Working Capital Note Units will be identical to the Private Units issued
to the Sponsor at the time of the Company’s Initial Public Offering.

Administrative Services Agreement

The Company entered into
an agreement, commencing on November 12, 2024 through the earlier of consummation of the initial Business Combination and the Company’s
liquidation, to pay the Sponsor $10,000 per month for office space, utilities, secretarial support and other administrative and consulting
services. As of March 31, 2025, the Company had incurred $30,000 of administrative services fees which was included in the accrued expenses
line in the accompanying balance sheet.

NOTE 6. COMMITMENTS AND CONTINGENCIES  

Registration Rights

The holders of the Founder
Shares, Private Placement Units and any units that may be issued upon conversion of the Working Capital Note (and any common stock
issuable upon the exercise of the Private Placement Units and Working Capital Note Units) have rights to require the Company to register
any of the securities held by them for resale under the Securities Act pursuant to a registration and stockholder rights agreement signed
on the effective date of the Initial Public Offering. These holders are entitled to make up to three demands, excluding short form registration
demands, that the Company register such securities for sale under the Securities Act. In addition, these holders have “piggyback”
registration rights to include their securities in other registration statements filed by the Company. The registration rights agreement
does not contain liquidated damages or other cash settlement provisions resulting from delays in registering the Company’s securities.
The Company will bear the expenses incurred in connection with the filing of any such registration statements.

16

CO2 ENERGY TRANSITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

MARCH 31, 2025

(Unaudited) 

Underwriting Agreement

The Company granted the underwriters
a 45-day option from the date of the Initial Public Offering to purchase up to 900,000 additional Units to cover over-allotments, if any,
at the Initial Public Offering price less the underwriting discounts