Company: NOEMW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-075048
Chunk: 5

Company: CO2 Energy Transition Corp.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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CONCERN

CO2 Energy Transition Corp.
(the “Company”) was incorporated in Delaware on September 30, 2021. The Company was formed for the purpose of effecting
a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses
(the “Business Combination”). The Company is not limited to a particular industry or sector for purposes of consummating a
Business Combination. While the Company may pursue an initial business combination target in any industry or geographic location, the
Company intends to focus its search for a target business in the production, servicing and transportation of Oil, Gas and LNG. The Company
is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and
emerging growth companies.

As of June 30, 2025, the
Company had not commenced any operations. All activity for the period from September 30, 2021 (inception) through June 30, 2025,
relates to the Company’s formation, the initial public offering (the “Initial Public Offering”), which is described
below and identifying a target company for a Business Combination. The Company will not generate any operating revenues until after the
completion of its initial Business Combination, at the earliest. The Company generates non-operating income in the form of interest income
from the proceeds derived from the Initial Public Offering.

The registration statement
for the Company’s Initial Public Offering was declared effective on November 12, 2024. On November 22, 2024, the Company consummated
the Initial Public Offering of 6,900,000 units, with each unit consisting of one share of our common stock, one redeemable warrant, and
one right (the “Units” and, with respect to the shares of common stock included in the Units offered, the “Public Shares”),
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 which is described in Note 3. Each warrant entitles the holder thereof to purchase one share
of our common stock at a price of $11.50 per share, subject to adjustment as provided herein and each eight rights entitle the holder
thereof to receive one share of common stock at the closing of a business combination.

Simultaneously with the