Company: NOEMW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-110040
Chunk: 118

Company: CO2 Energy Transition Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 118
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 discount of 0.75% of the gross proceeds of the Initial Public Offering, or $517,500, which was paid upon the closing
of the Initial Public Offering. Additionally, the underwriters are entitled to a deferred underwriting discount of 3.00% of the gross
proceeds of the Initial Public Offering, or $2,070,000, payable upon the closing of an initial Business Combination from the amounts held
in the trust account, as well as 138,000 representative shares with the fair value of $77,268 issued to the underwriters in connection
with closing of the Initial Public Offering.

The deferred fee will become
payable to the underwriter from the amounts held in the trust account solely in the event that the Company completes an initial Business
Combination, subject to the terms of the underwriting agreement.

JOBS Act

The Jumpstart Our Business
Startups Act of 2012 (the “JOBS Act”) contains provisions that, among other things, relax certain reporting requirements for
qualifying public companies. We qualify as an “emerging growth company” and under the JOBS Act are allowed to comply
with new or revised accounting pronouncements based on the effective date for private (not publicly-traded) companies. We are electing
to delay the adoption of new or revised accounting standards, and as a result, we may not comply with new or revised accounting standards
on the relevant dates on which adoption of such standards is required for non-emerging growth companies. As a result, the unaudited condensed
financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company
effective dates.

Additionally, subject to
certain conditions set forth in the JOBS Act, if, as an “emerging growth company,” we plan to rely on rules which allow
us to, among other things, delay the required (i) provision of an auditor’s attestation report on our system of internal controls
over financial reporting pursuant to Section 404, (ii) provision of all of the compensation disclosure that may be required of non-emerging
growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act, (iii) compliance with any requirement that
may be adopted by the Public Company Accounting Oversight Board (PCAOB) regarding mandatory audit rotation or a supplement to the auditor’s
report providing additional information about the audit and the financial statements (auditor discussion and analysis), and (iv) disclosure