Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 219

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 219
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. As of December 31, 2024 and 2023, 2,685,750 and 2,300,000 shares of common stock are issued and outstanding
respectively, excluding 6,900,000 shares of common stock subject to possible redemption.

Rights —
Each holder of a right will receive one-eight (1/8) of one share of common stock upon consummation of a Business Combination, even if
the holder of such right redeemed all shares held by it in connection with a Business Combination. No fractional shares will be issued
upon exchange of the rights. No additional consideration will be required to be paid by a holder of rights in order to receive its additional
shares upon consummation of a Business Combination as the consideration related thereto has been included in the Unit purchase price
paid for by investors in the Initial Public Offering. If the Company enters into a definitive agreement for a Business Combination in
which the Company will not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same
per share consideration the holders of the common stock will receive in the transaction on an as-converted into common stock basis and
each holder of a right will be required to affirmatively convert its rights in order to receive 1/8 share underlying each right (without
paying additional consideration). The shares issuable upon exchange of the rights will be freely tradable (except to the extent held
by affiliates of the Company). As of December 31, 2024 and 2023, there were 6,900,000 and no rights outstanding, respectively.

F-15

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 December 31, 2024 and 2023, the Public Warrants will become exercisable on the later of (a) 30 days after the completion
of a Business Combination and