CO2 Energy Transition entered into a convertible promissory note with its sponsor to fund a one-month extension of its SPAC deadline. The $229,700 note bears no interest and matures upon the earlier of completing a business combination or winding up. At the sponsor’s option, the note can convert into up to 22,970 units at $10.00 per unit, each unit including one share, one warrant exercisable at $11.50, and one right (eight rights convert into one share). The move provides additional time to finalize a business combination, now targeted by June 22, 2026.
Agreement details:
- Agreement type: Convertible promissory note for extension funding
- Counterparty: CO2 Energy Transition
- Signed / Effective: May 18 2026 / same
- Duration / Termination: Until business combination or liquidation
- Reason: Fund one-month SPAC deadline extension
Original SEC Filing:
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