Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 308

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 308
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 lose
their entire investment in us if our initial business combination is not completed, a conflict of interest may arise in determining whether
a particular business combination target is appropriate for our initial business combination.

On January 13, 2022, our
sponsor initially subscribed for an aggregate of 3,593,750 founders shares. In connection with a reduction in the planned size of the
offering, the subscription agreement was amended and restated on October 10, 2022, on December 28, 2022, and on December 1,
2023, the subscription agreement was further amended and restated in connection with a change in the proposed terms of the offering to
provide for a subscription of 2,300,000 founder shares for an aggregate purchase price of $25,000, or approximately $0.011 per share.
The founder shares will be worthless if we do not complete an initial business combination.

In addition, our sponsor purchased
an 265,000 private placement units simultaneously with our IPO, each unit consisting of one share of common stock, one warrant and one
right, with each warrant exercisable for one share of common stock, for a purchase price of $2,650,000 in the aggregate and each right
entitling the holder to one-eighth of one share of common stock upon completion of the initial business combination, or $10.00 per
unit, that will also be worthless if we do not complete a business combination.

The founder shares are identical
to the shares of common stock included in the units sold in the IPO except that: (1) the founder shares are subject to certain transfer
restrictions contained in a letter agreement that our initial stockholders, directors and officers have entered into, (2) pursuant
to such letter agreement, our initial stockholders, directors and officers have agreed to waive: (i) their redemption rights with
respect to any founder shares and public shares held by them, as applicable, in connection with the completion of our initial business
combination; (ii) their redemption rights with respect to any founder shares and public shares held by them in connection with a
stockholder vote to amend 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