Company: NOEMW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042720
Chunk: 173

Company: CO2 Energy Transition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part II, Item 2
Chunk 173
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Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds.

Recent Sales of Unregistered Securities

There have been no sales
of unregistered securities during the quarter ended March 31, 2025, and for the period from April 1, 2025 to the filing date of this Report,
which have not previously been disclosed in a Current Report on Form 8-K.

Purchases of equity securities by the issuer
and affiliated purchasers

None.

Use of Proceeds

On November 22, 2024, the
Company consummated the Initial Public Offering of 6,900,000 Units, which includes 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 Units at a price of $10.00 per Private Unit in a private
placement to the Sponsor, generating gross proceeds of $2,650,000.

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 of cash underwriting discount, $2,070,000 of deferred underwriting fees, $77,280 fair value of Representative Shares,
and $758,930 of other offering costs.

No payments for our expenses
were made in the offering described above directly or indirectly to (i) any of our directors, officers or their associates, (ii) any person(s)
owning 10% or more of any class of our equity securities or (iii) any of our affiliates, except in connection with the repayment of outstanding
loans. There has been no material change in the planned use