SPAC Sponsor Provides Second $229,700 Extension Loan, Pushing Deadline to July 22
NOEM is trading near its 52-week low of $9.82 (6.7% above the low).
Summary
CO2 Energy Transition Corp. received a second $229,700 convertible note from its sponsor, extending its SPAC merger deadline by one month to July 22, 2026. The note converts into up to 22,970 units at $10.00 per unit.
Key Events · Financing and Capital Events · NOEM
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Second Extension Payment
Sponsor deposited $229,700 into the trust account, extending the business combination deadline from June 22 to July 22, 2026.
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Convertible Note Issued
The company issued a convertible promissory note for $229,700, convertible into up to 22,970 units at $10.00 per unit, each unit consisting of one share, one warrant, and one right.
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Financial Impact
If converted, the note would add up to 22,970 shares (plus warrants and rights), representing minimal dilution relative to the ~9.6M shares outstanding.
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Going Concern Context
The company had only $26,108 in cash as of May 2026 and a going concern warning; this extension is essential to avoid liquidation.
Analysis · NOEM · Real Estate & Construction
CO2 Energy Transition Corp. secured a second one-month extension from its sponsor via a $229,700 convertible note, buying time until July 22, 2026 to find a merger target. The note converts into up to 22,970 units at $10.00 each, adding modest dilution if exercised. With only $26,108 in cash as of May and a going concern warning, this lifeline is critical but underscores the SPAC's precarious position. The company is simultaneously seeking shareholder approval for a longer extension to June 2027, making this a bridge to that vote.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 29.2% of the 1496 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NOEM was trading at $10.48 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $100.5M. The 52-week trading range was $9.82 to $10.50. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.