Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 1014

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 1014
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 pursuant to which the Company could borrow up
to an aggregate principal amount of $400,000. On February 15, 2023, the Company amended the Promissory Note’s principal amount from
$400,000 to $450,000. On April 20, 2024, the Company further amended the Promissory Note’s principal amount from $450,000 to $800,000.
The Promissory Note was non-interest bearing and payable on the earlier of (i) December 31, 2025 or (ii) the consummation of the Initial
Public Offering. As of December 31, 2023, there was $432,880, outstanding under the Promissory Note. On November 22, 2024, upon the closing
of the Initial Public Officer, the Company repaid the note and borrowings with the exception of $11,730 which remains outstanding under
the note as of December 31, 2024.

On January 13, 2022, our
sponsor purchased 3,593,750 founder shares for an aggregate purchase price of $25,000. In connection with a reduction in the size of the
offering, the subscription agreement was amended and restated on October 10, 2022, on December 28, 2022, and on December 1,
2023 to provide that the founder shares would amount to 2,300,000. Up to 300,000 founder shares were subject to forfeiture by our sponsor
depending on the extent to which the underwriters’ over-allotment option is exercised; however, because the full over-allotment
was exercised in connection with our IPO, no founder shares were forfeited.

Simultaneously with the closing
of the Initial Public Offering on November 22, 2024, the sponsor purchased an aggregate of 265,000 private placement units at a price
of $10.00 per private placement unit, for an aggregate purchase price of $2,650,000 in a private placement. Each private placement unit
consists of one private share, one private right and one redeemable private warrant. Each private right entitles the holder thereof to
receive one-eighth (1/8) of one share of common stock upon the consummation of our initial business combination. Each whole private warrant
is exercisable for one share of common stock at a price of $11.50 per share, subject to adjustment. The proceeds