Company: NOEMW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001213900-25-042720
Chunk: 110

Company: CO2 Energy Transition Corp.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 2
Chunk 110
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: (i) the effective date of the consummation of the Company’s
initial merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses
or entities (the “Business Combination”); or (ii) the date that the winding up of the Company is effective (such date, as
applicable, the “Maturity Date”), unless accelerated upon the occurrence of an Event of Default (as defined in the Working
Capital Note).

Amounts outstanding under
the Working Capital Note, are convertible, at the option of the sponsor, into units of the Company (“Working Capital Note Units”),
at a conversion price of $10.00 per Working Capital Note Unit, with each unit consisting of one share of Company common stock, one warrant,
and one right, with each warrant entitling the holder thereof to purchase one share of common stock at $11.50 per share, subject to adjustment
as provided in the Company’s Registration Statement on Form S-1 filed in connection with its IPO, and each eight rights entitling
the holder to receive one share of common stock upon completion of the Business Combination. The Working Capital Note Units will be identical
to the private placement units issued to the Sponsor at the time of the Company’s IPO.

We do not believe we will
need to raise additional funds in order to meet the expenditures required for operating our business, as we expect any required funds
to be provided by our sponsor in the form of additional Working Capital Loans. However, if our estimate of the costs of identifying a
target business, undertaking in-depth due diligence and negotiating an initial business combination are less than the actual amount necessary
to do so, we may have insufficient funds available to operate our business prior to our initial business combination. Moreover, we may
need to obtain additional financing either to complete our initial business combination or because we become obligated to redeem a significant
number of our public shares upon consummation of our initial business combination, in which case we may issue additional securities or
incur debt in connection with such initial business combination.

26

Off-Balance Sheet Financing Arrangements

We have no obligations, assets
or liabilities, which would be considered off-balance sheet arrangements as of March 31, 2025. We do not participate in transactions that
create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would
have been established for the purpose of facilitating off-balance sheet