Company: RAIN
Filing Date: 2025-02-12
Form Type: 424B3
Source: 0001213900-25-012904
Chunk: 168

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-02-12
Form: 424B3
Chunk 168
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an affiliate of Harry You, who was Coliseum’s chairman of the board and sponsor and a shareholder and lender to RET prior to Closing,
and is Holdco’s chairman of the Board and a shareholder and lender to Holdco after the Closing, an affiliate of Paul Dacier, who
was the President and sole director of Holdco and the President, director, and shareholder of RET prior to Closing, and Lyman Dickerson,
who is a member of Holdco’s Board after the Closing.

The PIPE Subscription Agreements
contain customary representations and warranties of each of Holdco and the PIPE Investors, and customary conditions to closing, including
the consummation of the Business Combination between Holdco, Coliseum and RET. The PIPE Investors are parties to, or signed joinders to,
the Registration Rights Agreement, described in more detail below, and accordingly, Holdco is obligated to use its commercially reasonable
efforts to file a registration statement to register for resale the shares of Class A Common Stock issued in the PIPE Investment within
30 days of the Closing and to cause such registration statement to be declared effective by the SEC as soon as practicable after the filing
thereof. The PIPE Investors also have demand and piggyback rights pursuant to the Registration Rights Agreement.

Warrant Exchange Agreement

On the Closing Date, pursuant to the Warrant Exchange Agreement, the Coliseum Private Placement Warrants were exchanged for Class A Common Stock, at the Warrant Exchange. Accordingly, as a result of the Warrant Exchange, on the Closing Date, the Company issued an aggregate of 806,250 shares of Class A Common Stock to the former holders of Coliseum Private Placement Warrants at the Closing and such Coliseum Private Placement Warrants were cancelled and no longer outstanding.

Line of Credit

On December 30, 2024, in
connection with the consummation of the Business Combination, Holdco entered into the Loan Agreement with RHY, an affiliate of Harry You,
pursuant to which RHY committed to provide Holdco with up to $7 million of new loans. Prior to each drawdown of the Commitment, pursuant
to the Loan Agreement, Holdco must certify to RHY, among other things, that it has used its best efforts to raise equity, equity-linked,
or debt financing on terms available in the market to a similarly-situated company in similar circumstances, and is unable to obtain alternate
financing in the amount of such drawdown. Once amounts are borrowed, they may not be re-b