Company: NOEMW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-075048
Chunk: 79

Company: CO2 Energy Transition Corp.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 the Market Value or the Newly
Issued Price.

The Private Warrants are
identical to the Public Warrants underlying the Units sold in the Initial Public Offering, 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 a 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.

As of June 30, 2025, and
December 31, 2024, there were 6,900,000 Public and 265,000 Private Warrants outstanding.

19

CO2 ENERGY TRANSITION CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JUNE 30, 2025

(Unaudited) 

NOTE 8. REPRESENTATIVE SHARES

Simultaneously with the closing
of the Initial Public Offering on November 22, 2024, the Company issued Kingswood Capital Partners LLC, the representative of the underwriters
(“Kingswood”), 138,000 shares of common stock (the “Representative Shares”). The Company estimated the value of
the Representative Shares to be $77,280. Kingswood has agreed not to transfer, assign or sell any such shares until the completion of
the initial Business Combination. In addition, Kingswood has agreed (i) to waive its redemption rights with respect to such shares in
connection with the completion of an initial Business Combination and (ii) to waive its rights to liquidating distributions from the Trust
Account with respect to such shares if the Company fails to complete an initial Business Combination within the Combination Period.

The Representative Shares
have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately following the effective
date of the Initial Public Offering pursuant to Rule 5110(e)(1) of FINRA’s NASD Conduct Rules. Pursuant to FINRA Rule 5110(e)(1),
these securities may not be sold, transferred, assigned, pledged or hypothecated