Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 79

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 79
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right will automatically receive one-eighth (1/8) of one share of common stock upon consummation of our initial business combination.

Simultaneously
with the closing of the IPO, the Company consummated the sale of 265,000 units (the “private placement units”) at
a price of $10.00 per Private Unit in a private placement to the Company’s sponsor, CO2 Energy Transition, LLC (the “sponsor”),
generating gross proceeds of $2,650,000.

The
private placement units are identical to the units, except that the Private Warrants and the common stock issuable upon the exercise
of the Private Warrants will not be transferable, assignable or salable until 30 days after the completion of our initial business combination,
subject to certain limited exceptions. Additionally, the Private Warrants will be exercisable on a cashless basis and be non-redeemable
so long as they are held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other
than the initial purchasers or their permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by
such holders on the same basis as the Public Warrants.

Following the closing of
the IPO, on November 22, 2024, an amount of $69,000,000 ($10.00 per unit) from the net proceeds of the sale of the units in the IPO and
the sale of the private placement units was placed in a trust account (“trust account”), located in the United States
and invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940
(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, until the earlier of (i) the completion of our initial business combination and (ii) the distribution of the funds held
in the trust account, as described below.

A total of $517,500 of underwriting
fees (0.75% of the total offering proceeds) were paid to the underwriters upon the closing of the IPO, together with 138,000 shares of
our common stock, and a total of $2,