Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 287

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 287
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 we may determine, in our discretion, to liquidate the securities held in the
trust account.

There is currently uncertainty
concerning the applicability of the Investment Company Act to a special purpose acquisition company (“SPAC”) and we
may be subject to a claim that we have been operating as an unregistered investment company. If we are deemed to be an investment company
for purposes of the Investment Company Act, we might be forced to abandon our efforts to complete an initial business combination and
instead be required to liquidate. If we are required to liquidate, our investors would not be able to realize the benefits of owning stock
in a successor operating business, including the potential appreciation in the value of our stock and warrants following such a transaction,
and our rights and warrants would expire worthless.

We do not believe that our
anticipated principal activities will subject us to the Investment Company Act. The funds in the trust account will be held initially
only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds investing solely in U.S. government
treasury obligations and 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