Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 504

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1C
Chunk 504
---
  
    Class B  common stock 
  
    Basic and diluted net loss per common share: 

    Numerator: 

    Allocation of net loss 
    $(4,486,728) 
    $(47,033) 
    $(437,007) 
    $             - 

    Denominator: 

    Basic and diluted weighted average share outstanding 
     1,956,836  
     20,513  
     920,538  
     - 

    Basic and diluted net loss per common share 
    $(2.29) 
    $(2.29) 
    $(0.47) 
    $- 

F-12

Recent Accounting Pronouncements

In November 2023, the FASB issued Accounting Standards Update (“ASU”)
2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The amendments in this ASU expand
public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the
Chief Operating Decision Maker and included within each reported measure of segment profit or loss, an amount and description of its composition
for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The Company adopted ASU 2023-07,
which did not have a material impact on the consolidated financial statements.

In December 2023, the FASB issued ASU No. 2023-09
(Topic 740), Improvements to Income Tax Disclosures. The ASU requires disaggregated information about a reporting entity’s
effective tax rate reconciliation as well as an expansion of other income tax disclosures. The ASU is effective on a prospective basis
for annual reporting periods beginning after December 15, 2024. The Company is currently evaluating the impact this ASU will have
on its consolidated financial statements and related disclosures.

Note 3 — Business Combination

Business Combination

On December 31, 2024, the Company consummated
its Business Combination pursuant to the terms of the Business Combination Agreement. The Business Combination was structured as follows:

a)Prior to Closing, the sole outstanding Coliseum Class B Ordinary Share was converted into one Coliseum Class A Ordinary Share, which was then converted into one share of Holdco Class A Common Stock at Closing.

b)Prior to Closing, pursuant to Extension Non-Redemption Agreements and the Sponsor Support Agreement,