Company: NOEMW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004368
Chunk: 107

Company: CO2 Energy Transition Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 107
---
writers of our IPO against certain liabilities, including
liabilities under the Securities Act. As of December 31, 2024, we had access to $953,069 outside of the trust account with which to pay
any such potential claims (not including costs and expenses incurred in connection with our liquidation, up to an aggregate of $100,000).
In the event that we liquidate and it is subsequently determined that the reserve for claims and liabilities is insufficient, stockholders
who received funds from our trust account could be liable for claims made by creditors.

Under Delaware General Corporation
Law (“DGCL”), stockholders may be held liable for claims by third parties against a corporation to the extent of distributions
received by them in a dissolution. The pro rata portion of our trust account distributed to our public stockholders upon the redemption
of our public shares in the event we do not complete our initial business combination within 18 months of the closing of our IPO
(or up to 24 months from the closing of our IPO if we extend the period of time to consummate a business combination, as described
in more detail in this Report) may be considered a liquidating distribution under Delaware law. If the corporation complies with certain
procedures set forth in Section 280 of the DGCL intended to ensure that it makes reasonable provision for all claims against it,
including a 60-day notice period during which any third-party claims can be brought against the corporation, a 90-day period
during which the corporation may reject any claims brought, and an additional 150-day waiting period before any liquidating distributions
are made to stockholders, any liability of stockholders with respect to a liquidating distribution is limited to the lesser of such stockholder’s
pro rata share of the claim or the amount distributed to the stockholder, and any liability of the stockholder would be barred after the
third anniversary of the dissolution.

Furthermore, if the pro rata
portion of our trust account distributed to our public stockholders upon the redemption of our public shares in the event we do not complete
our initial business combination within 18 months of the closing of our IPO (or up to 24 months from the closing of our IPO
if we extend the period of time to consummate a business combination, as described in more detail in this Report), is not considered a
liquidating distribution under Delaware law and such redemption distribution is deemed to be unlawful, then pursuant to Section 174