Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 213

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1A
Chunk 213
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, which would increase the number of shares eligible for future resale in the public market and result in dilution to our shareholders.

Warrants to purchase an aggregate of up to 5,000,000
Public Warrants are exercisable in accordance with the terms of the Warrant Assumption Agreement governing those securities. The exercise
price of the Warrants is $11.50 per share, subject to adjustment. However, there is no guarantee that the Warrants will ever be in the
money prior to their expiration, and, as such, the Warrants may expire worthless. See “— the Warrants may never be
in the money, and they may expire worthless and the terms of the Warrants may be amended in a manner adverse to a holder if holders of
at least 50% of the then outstanding Warrants approve of such amendment. As a result, the exercise price of the Warrants
could be increased, the exercise period could be shortened and the number of shares of Class A Common Stock purchasable upon exercise
of a Warrant could be decreased, all without your approval.”

The Warrants may never be in the money,
and they may expire worthless, and the terms of the Warrants may be amended in a manner adverse to a holder if holders of at least 50%
of the then outstanding Warrants approve of such amendment. As a result, the exercise price of the Warrants could be increased, the exercise
period could be shortened and the number of shares of Class A Common Stock purchasable upon exercise of a Warrant could be decreased,
all without your approval.

The Warrants were issued in registered form under
a warrant agreement between the Transfer Agent, as warrant agent, and Holdco. The Warrant Agreement provides that the terms of the Warrants
may be amended without the consent of any holder for the purpose of curing any ambiguity or to correct any defective provision or mistake,
adjusting the provisions relating to cash dividends on Common Stock as contemplated by and in accordance with the Warrant Agreement,
adding or changing any provisions with respect to matters or questions arising under the Warrant Agreement as the parties to the Warrant
Agreement may deem necessary or desirable and that the parties deem to not adversely affect the rights of the registered holders of the
warrants, provided that the approval by the holders of at least 50% of the outstanding Warrants is required to make any change that adversely
affects the interests of the registered holders of Warrants. Although Holdco’s ability