Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 303

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 303
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 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 (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 Mergers, together with the other transactions contemplated by the Business Combination Agreement, the plan of merger by and among Coliseum, Merger Sub 1, and Holdco (the “Plan of Merger”) and all other agreements, certificates and instruments entered into in connection therewith, are referred to herein as the “Business Combination”. The transaction has a $10 million minimum cash condition. Assuming no redemptions, Rainwater is expected to be capitalized via Coliseum’s trust account and capital raise from Coliseum’s Sponsor team.

<div align='center'>F-76

Rain Enhancement Technologies, Inc.

Notes to Financial Statements
December 31, 2023 AND 2022</div>

Going Concern Consideration

As of December 31, 2023, the Company had approximately $37,000 in cash and had a working capital deficit of approximately $1.1 million.

The Company’s liquidity needs through December 31, 2023 were provided from proceeds from the issuance of common stock and Series A preferred stock of approximately $110,000, loans from certain officers and investors pursuant to the Note (as defined in Note 6) for an aggregate amount of $600,000 in February 2023 and advances from certain investor. As of December 31,