Company: NOEMW
Filing Date: 2025-04-21
Form Type: 8-K
Source: 0001213900-25-033755
Chunk: 0

Company: CO2 Energy Transition Corp.
Filing Date: 2025-04-21
Form: 8-K
Item: Item 1.01
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Item
1.01.

Entry into a Material Definitive Agreement.

On April 15, 2025, CO2 Energy
Transition Corp. (the “ Company”), entered into a convertible promissory note dated March 31, 2025 (the “ Working
Capital Note”) with its sponsor, CO2 Energy Transition, LLC, a Delaware limited liability company (the “ Sponsor”).
Pursuant to the Working Capital Note, the Company may request, and in the sole discretion of the Sponsor, the Sponsor may loan the Company,
drawdowns of up to an aggregate $1,500,000 in principal from time to time, less $11,731 which was advanced prior to the execution of the
Working Capital Note, and included as outstanding thereunder, with such amounts to be used for working capital.

Amounts owed under the Working
Capital Note do not accrue interest and are payable on the earlier of: (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 initial public offering (“ 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.

The shares, warrants and rights
constitute “ Registrable Securities” pursuant to that certain Registration Rights Agreement, dated November 20, 2024,
by and among the Company, Sponsor and certain other security holders named therein.

The foregoing description
of the