Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 115

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 115
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 Discovery Land, which requires Discovery Land to use commercially reasonable efforts to purchase rain enhancement equipment from RET for certain real estate development projects under Discovery Land’s management between March 15, 2023 and December 31, 2025. Discovery Land intends to purchase a minimum of $500,000 of equipment during the term of the MOU based on agreed-upon pricing, however, Discovery Land is not obligated to purchase any equipment from RET. Additionally, RET has been engaged in business development discussions with potential customers over the course of the preceding 1.5 years which has helped it understand the market potential and near-term opportunities.

Termination of Business Combination with dMY VI

On April 5, 2023, we terminated the share purchase agreement we entered into with dMY Technology Group, Inc. VI, a Delaware corporation, on December 22, 2022. No termination penalties were incurred by any party in connection with the termination of the share purchase agreement.

Business Combination with Coliseum Acquisition Corp.

On June 25, 2024, RET, Coliseum, Holdco, Merger Sub 1, and Old Merger Sub 2 entered into the Business Combination Agreement. On August 22, 2024, Old Merger Sub 2 entered into an Assignment and Assumption of Business Combination Agreement (the “Assignment”) pursuant to which Old Merger Sub 2 assigned to Merger Sub 2 all of Old Merger Sub 2’s right, title and interest in and to the Business Combination Agreement, and Merger Sub 2 assumed, and agreed to perform, satisfy and discharge in full, as the same become due, all of Old Merger Sub 2’s liabilities and obligations under the Business Combination Agreement arising on, from and after the date thereof. Old Merger Sub 2 was liquidated and dissolved on August 23, 2024.

On August 22, 2024, all parties entered into an Amendment to the Business Combination Agreement. Pursuant to the Business Combination Agreement, as amended, among other things and subject to the terms and conditions contained therein, (i) on the day immediately prior to the Closing Date, the SPAC Merger will occur, whereby Coliseum will merge with and into Merger Sub 1 with Merger Sub 1 surviving the SPAC Merger as a direct, wholly owned subsidiary of Holdco, and (ii) on the Closing Date, following the SPAC Merger and as a part of the same overall transaction, the Company Mer