Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 191

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 191
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 trust account will be used as working
capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.  

As of December 31,
2024, we had cash of approximately $953,069. We intend to use the funds held outside the trust account primarily to identify and evaluate
target businesses, perform business due diligence on prospective target businesses, travel to and from the offices, plants or similar
locations of prospective target businesses or their representatives or owners, review corporate documents and material agreements of
prospective target businesses, and structure, negotiate and complete a business combination.

63

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 (“Working Capital Loans”).
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 does not close, the Company may use a portion of proceeds held outside the
trust account to repay the Working Capital Loans, but no proceeds held in the trust account would be used to repay the Working Capital
Loans. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements
exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of an initial business combination,
without interest, or, at the lender’s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into units
at a price of $10.00 per unit. The units would be identical to the private placement units. As of December 31, 2024 and December 31,
2023, no such Working Capital Loans were outstanding.

We do not believe we will
need to raise additional funds in order to meet the expenditures required for operating our business. 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