Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 96

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 96
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 10-K. As of
December 31, 2024, we owed the sponsor $11,730. If we complete our initial business combination, we would repay such loaned amounts
out of the proceeds of the trust account released to us. If we do not complete a business combination, we will not repay such loans.
Furthermore, the letter agreement with our initial stockholder, our sponsor, contains a provision pursuant to which our sponsor has
agreed to waive their right to be repaid for such loans in the event that we do not complete a business combination. Our sponsor and
their affiliates or designees are not obligated to fund the trust account to extend the time for us to complete our initial business
combination.

13

Redemption rights for public stockholders upon completion of our
initial business combination

We will provide our public
stockholders with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account calculated as of two business
days prior to the consummation of the initial business combination, including interest (which interest shall be net of taxes payable),
divided by the number of then issued and outstanding public shares, subject to the limitations described herein. At the completion of
our initial business combination, we will be required to purchase any shares of common stock properly delivered for redemption and not
withdrawn. The amount in the trust account is initially anticipated to be $10.00 per public share. The per-share amount we will
distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting discounts we will pay to the
underwriters. The redemption rights will include the requirement that a beneficial holder must identify itself in order to validly redeem
its shares. There will be no redemption rights upon the completion of our initial business combination with respect to our warrants.
Our initial stockholders, directors and officers have entered into a letter agreement with us, pursuant to which they have agreed to
waive their redemption rights with respect to any founder shares and public shares held by them in connection with the completion of
our initial business combination.

Manner of Conducting Redemptions

We will provide our public
stockholders with the opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination
either (1) in connection with a stockholder meeting called to approve the business combination