Company: NOEMW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110040
Chunk: 75

Company: CO2 Energy Transition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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 to time, less $11,730 which was advanced prior to the execution of the Working
Capital Note, and included as outstanding thereunder, with such amounts to be used for working capital.

Amounts owed under the Working
Capital Note do not accrue interest and are payable on the earlier of: (i) the effective date of the consummation of the Company’s
Business Combination; or (ii) the date that the winding up of the Company is effective (such date, 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.

As
of September 30, 2025 and December 31, 2024 $11,730 was outstanding under the Working
Capital Note.

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. For the three and nine months ended September 30, 2025, the Company had incurred and paid $30,000 and $90,000 of administrative
services fees, respectively. The administrative services fees are included in General and administrative costs in the Company’s
condensed statements of operations.

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