Company: RAIN
Filing Date: 2025-05-16
Form Type: 424B3
Source: 0001213900-25-044498
Chunk: 23

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-05-16
Form: 424B3
Chunk 23
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 de Masi for an aggregate amount of $600,000. The Note has an
annual interest rate of 5% and is currently due on demand.

On December 30, 2024, Holdco entered into the
Loan Agreement with RHY, an affiliate of Harry You, pursuant to which RHY agreed to issue an LOC to Holdco for up to $7 million,
in addition to the Rollover amount described below. The Loan has an interest rate of 5%, and interest will be due and payable quarterly
in arrears.

Prior to Closing, the outstanding amount that
Coliseum and RWT owed to Mr. You and his affiliates was: (i) approximately $1.7 million and approximately $333,000 of advances
to Coliseum and RWT, respectively, (ii) convertible note balance of $667,500 to Coliseum, and a portion under the Note discussed
above of approximately $216,000 to RWT (which amount includes $200,000 in principal and approximately $16,000 in accrued
interest), and (iii) an outstanding balance of $180,000 in accrued administrative fees to Coliseum, for a total of approximately
$3.1 million. All of these outstanding amounts (the “Rollover”) were assigned to and assumed by Holdco and are treated
for all purposes as Loans outstanding under the Loan Agreement. The Rollover amount does not reduce the $7 million funding available
to the Company under the LOC.

As of March 31, 2025, the Company had drawn approximately
$737,000 from the LOC, bringing the total outstanding balance under the Loan Agreement to approximately $3.8 million (including the Rollover).
Subsequent to March 31, 2025, the Company drew down an additional amount of approximately $554,000 under the LOC.

Employment Agreement

On December 31, 2024, Holdco entered into a binding offer letter (the “Offer Letter”) with its new CEO, Mr. Seidl, effective
January 2, 2025, pursuant to which Holdco agreed to pay to the CEO (i) an annual salary of $500,000, (ii) an annual incentive bonus up
to 200% of his base salary, and (iii) a contingent bonus payment of $5.0 million that will be issued under a form of an unsecured
note payable (the “Officer Note”) on the earlier of (x