Company: RAIN
Filing Date: 2025-02-12
Form Type: 424B3
Source: 0001213900-25-012904
Chunk: 286

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-02-12
Form: 424B3
Chunk 286
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, 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 (the “Amended Business Combination Agreement”). Pursuant to the Amended Business Combination Agreement, among other things and subject to the terms and conditions contained therein, (i) on the day immediately prior to the date of the closing of the Business Combination (the “Closing Date”), Coliseum will merge with and into Merger Sub 1 (the “SPAC Merger”) 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, Merger Sub 2 will merge with and into Rainwater (the “Company Merger”, and together with the SPAC Merger, the “Mergers”) with Rainwater surviving the Company Merger so that, immediately following the Closing, each of Merger Sub 1 and RET will be a wholly-owned subsidiary of Holdco.

The Business Combination is subject to certain customary closing conditions, including but not limited to approval for the listing of Holdco Class A Common Stock on Nasdaq and a $10 million minimum cash condition. There can be no assurances that such conditions will be satisfied. Additionally, each of Rainwater and Coliseum may terminate the Business Combination Agreement if the Closing has not occurred on or before December 25, 2024. Assuming no redemptions, Rainwater is expected to be capitalized via Coliseum’s trust account.

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RAIN ENHANCEMENT TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

Going Concern Consideration

As of September 30, 2024, the Company had approximately $240,000 in cash and had a working capital deficit of approximately $1.3 million.

The Company’s liquidity needs through September 30, 2024 were provided from proceeds from the issuance of securities of approximately $525,000 (excluding $450,000 in subscription receivable), loans from certain officers and investors pursuant to the Note (as defined in Note 5) for an aggregate amount of $600,000 in February 2023 and advances from certain investor. As of September 30, 2024, the