CO2 Energy Transition Completes $60M SPAC IPO Underwritten by Client Kingswood Capital

Olshan acted as counsel to Kingswood Capital Partners LLC, the sole underwriter, in the $60 million initial public offering and listing on Nasdaq for CO2 Energy Transition Corp., a new special purpose acquisition company (SPAC). The offering consisted of 6,000,000 units at an offering price of $10.00 per unit. Each unit consists of one share of common stock, one redeemable warrant to purchase one share of common stock at $11.50 per share, and one right to one-eighth of one share of common stock upon completion of an initial business combination. Kingswood Capital also exercised its over-allotment option in full to purchase 900,000 additional units at $10.00 per unit. The units are traded on The Nasdaq Global Market under the ticker symbol “NOEMU.” Once the securities comprising the units begin separate trading, the common stock, the warrants and the rights are also expected to be traded on Nasdaq. CO2 Energy intends to initially pursue targets in the carbon capture, utilization and storage industry. The Olshan team was led by corporate partner Spencer G. Feldman and corporate associate Dakota J. Forsyth.