Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 1177

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 1177
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 We will bear the costs and expenses of filing any such registration statements. See “Item 12. Security Ownership
of Certain Beneficial Owners and Management and Related Stockholder Matters—Principal Stockholders— Registration Rights.”

As more fully discussed in
“Item 10. Directors, Executive Officers, and Corporate Governance—Conflicts of Interest,” if any of our directors
or officers becomes aware of a business combination opportunity that falls within the line of business of any entity to which he or she
has then-current fiduciary or contractual obligations, he or she may be required to present such business combination opportunity
to such entity prior to presenting such business combination opportunity to us. Our directors and officers currently have certain relevant
fiduciary duties or contractual obligations that may take priority over their duties to us.

The Company entered into an
administration agreement with the sponsor, commencing on November 12, 2024, through the earlier of consummation of the initial business
combination and the Company’s liquidation, to pay the sponsor $10,000 per month for office space, utilities, secretarial support
and other administrative and consulting services. As of December 31, 2024, the Company had incurred $3,667 of administrative services
fees which was included in accrued expenses line in the accompanying balance sheet.

Our sponsor, directors and
officers, or any of their respective affiliates, will be reimbursed for any out- of-pocket expenses incurred in connection with activities
on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit
committee will review on a quarterly basis all payments that were made to our sponsor, directors, officers or our or any of their respective
affiliates and will determine which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on the reimbursement
of out-of-pocket expenses incurred by such persons in connection with activities on our behalf.

In order to finance transaction
costs in connection with an initial business combination, the sponsor or an affiliate of the sponsor, or certain of the Company’s
officers and directors may, but are not obligated to, loan the Company funds as may be required. If the Company completes an initial business
combination, the Company would repay the Working Capital Loans out of the proceeds of the trust account released to the Company. Otherwise,
the Working Capital Loans would be repaid only out of funds held outside the trust account. In the event that an initial business combination