Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 132

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 132
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 meeting certain conditions under Rule 2a-7 under the Investment Company Act although, notwithstanding the
nature of our investments we may still be deemed to be deemed to be an unregistered investment company. To mitigate the risk of us being
deemed to have been operating as an unregistered investment company (including under the subjective test of Section 3(a)(1)(A) of
the Investment Company Act of 1940, as amended), which risk may increase the longer we hold the investments in the trust account, we may
at any time (based on our management team’s ongoing assessment of all factors related to our potential status under the Investment
Company Act) instruct Continental Stock Transfer & Trust Company, the trustee with respect to the trust account, to liquidate the
U.S. government treasury obligations or money market funds held in the trust account and thereafter to hold all funds in the trust account
in cash until the earlier of consummation of our initial business combination or liquidation. As a result, following such liquidation,
we will likely maintain the remaining amount in its trust account in an interest bearing demand deposit account at a bank. The interest
we will earn on such funds may be less than what we would have earned if they were kept in the investments.

32

Furthermore, on January 24,
2024, the SEC adopted the final rules (the “SPAC Final Rules”), relating to, among the others, the extent to which
SPACs could become subject to regulation under the Investment Company Act. The SPAC Final Rules provide that whether a SPAC is an investment
company subject to the Investment Company Act is based on particular facts and circumstances. A specific duration period of a SPAC is
not the sole determinant, but one of the long-standing factors to consider in determination of a SPAC’s status under the Investment
Company Act. A SPAC could be deemed as an investment company at any stage of its operation. The determination of a SPAC’s status
as an investment company includes analysis of a SPAC’s activities, depending upon the facts and circumstances, including but not
limited to, the nature of SPAC assets and income, the activities of a SPAC’s officers, directors and employees, the duration of
a SPAC, the manner a SPAC holding itself out to investors, and the merging with an investment company. The SPAC Final Rules were published
in the Federal Register on February 26, 2024 and became effective on July 1,