Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 313

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 313
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holders may pursue remedies against us for any breach of our amended and restated certificate of
incorporation.

Our sponsor, officers and
directors have agreed, pursuant to a written agreement with us that they will not propose any amendment to our amended and restated certificate
of incorporation (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business
combination or to redeem 100% of our public shares if we do not complete our initial business combination within 18 months from the closing
of the IPO (May 22, 2026)(or up to 24 months from the closing of our IPO (November 22, 2026) if we extend the period of time to consummate
a business combination, as described in more detail in this Report) or (B) with respect to any other provision relating to stockholders’
rights or pre-initial business combination activity, unless we provide our public stockholders with the opportunity to redeem their
shares of our common stock upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount
then on deposit in the trust account, divided by the number of then outstanding public shares. These agreements are contained in a letter
agreement that we have entered into with our sponsor, officers and directors. Our stockholders are not parties to, or third-party beneficiaries
of, these agreements and, as a result, will not have the ability to pursue remedies against our sponsor, officers or directors for any
breach of these agreements. As a result, in the event of a breach, our stockholders would need to pursue a stockholders’ derivative
action, subject to applicable law.

46

CO2 Energy Transition, LLC, our sponsor,
beneficially owns a significant percentage of our outstanding common stock and as such exercises significant voting control over us,
which limits stockholders’ abilities to influence corporate matters and could delay or prevent a change in corporate control.

CO2 Energy Transition, LLC,
our sponsor, beneficially owns approximately 26.8% of the outstanding shares of our common stock. As a result, it has significant influence
on the stockholder vote. Consequently, it has the ability to influence matters affecting our stockholders and therefore exercises significant
control in determining the outcome of a number of corporate transactions or other matters. Additionally, it will be difficult if not impossible
for investors to remove our current directors, which will mean they will remain in control