Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 343

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 343
---
 subsequent to completion of our initial business combination. The payment of any cash dividends subsequent to our
initial business combination will be within the discretion of our board of directors at such time. In addition, our board of directors
is not currently contemplating and does not anticipate declaring any stock dividends in the foreseeable future. Further, if we incur
any indebtedness in connection with our initial business combination, our ability to declare dividends may be limited by restrictive
covenants we may agree to in connection therewith.

Securities Authorized for Issuance Under Equity
Compensation Plans

None.

Recent Sales of Unregistered Securities

There have been no sales
of unregistered securities during the quarter ended December 31, 2024, and from the period from January 1, 2025 to the filing date of
this Report which have not previously been disclosed in a Current Report on Form 8-K or Quarterly Report on Form 10-Q.

Purchases of Equity Securities by the Issuer
and Affiliated Purchasers

None.

Use of Proceeds from the Initial Public Offering

On November 22, 2024, the
Company consummated the Initial Public Offering of 6,900,000 units, which included the full exercise by the underwriters of their over-allotment
option in the amount of 900,000 units, at $10.00 per unit, generating gross proceeds of $69,000,000. Simultaneously with the closing
of the Initial Public Offering, the Company consummated the sale of 265,000 private placement units at a price of $10.00 per private
placement unit in a private placement to the sponsor, generating gross proceeds of $2,650,000.

61

Of the gross proceeds received
from the Initial Public Offering and the private placement, an aggregate of $69,000,000 was placed in the trust account. The proceeds
held in the trust account may be invested by the trustee only in U.S. government securities within the meaning set forth in Section 2(a)(16)
of the Investment Company Act, with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a
money market fund selected by the Company meeting certain conditions of Rule 2a-7 of the Investment Company Act, as determined by the
Company. The specific investments in our trust account may change from time to time.

We incurred a total of $3,423,710,
consisting of $517,500