Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 101

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 101
---
 the tender offer rules, the tender offer period will be not less than 20 business
days and, in the case of a stockholder vote, a final proxy statement would be mailed to public stockholders at least 10 days prior
to the stockholder vote. However, we expect that a draft proxy statement would be made available to such stockholders well in advance
of such time, providing additional notice of redemption if we conduct redemptions in conjunction with a proxy solicitation. Given the
relatively short exercise period, it is advisable for stockholders to use electronic delivery of their public shares.

There is a nominal cost associated
with the above-referenced tendering process and the act of certificating the shares or delivering them through the DWAC System. The
transfer agent will typically charge the tendering broker a fee of approximately $100 and it would be up to the broker whether or not
to pass this cost on to the redeeming holder. However, this fee would be incurred regardless of whether or not we require holders seeking
to exercise redemption rights to tender their shares. The need to deliver shares is a requirement of exercising redemption rights regardless
of the timing of when such delivery must be effectuated.

In order to perfect redemption
rights in connection with their business combinations, some blank check companies would distribute proxy materials for the stockholders’
vote on an initial business combination, and a holder could simply vote against a proposed business combination and check a box on the
proxy card indicating such holder was seeking to exercise his or her redemption rights. After the business combination was approved, the
company would contact such stockholder to arrange for him or her to deliver his or her certificate to verify ownership. As a result, the
stockholder then had an “option window” after the completion of the business combination during which he or she could
monitor the price of the company’s shares in the market. If the price rose above the redemption price, he or she could sell his
or her shares in the open market before actually delivering his or her shares to the company for cancellation. As a result, the redemption
rights, to which stockholders were aware they needed to commit before the stockholder meeting, would become “option”
rights surviving past the completion of the business combination until the redeeming holder delivered its certificate. The requirement
for physical or electronic delivery prior to the meeting ensures that a redeeming holder’s election to redeem is irrevocable once
the business combination is approved.

16