Company: RAIN
Filing Date: 2025-02-12
Form Type: 424B3
Source: 0001213900-25-012904
Chunk: 135

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-02-12
Form: 424B3
Chunk 135
---
 formed for the purpose of effectuating a merger, share exchange, asset acquisition, share purchase, reorganization or other similar business combination, involving one or more businesses.

As of September 30, 2024, we had aggregate funds held in the Trust Account of $20,055,086. We currently have until up to December 25, 2024 to complete our initial business combination. However, Nasdaq rules require that a special purpose acquisition company complete one or more business combinations within 36 months of the effectiveness of its IPO registration statement, which, in the case of Coliseum, was June 22, 2024. Accordingly, the SPAC Organizational Documents currently contravene Nasdaq rules.

On June 25, 2024, Coliseum received a notice from the Listing Qualifications Department of the Nasdaq Stock Market stating that, due to Coliseum’s non-compliance with Nasdaq Rule IM-5101-2, which requires a special purpose acquisition company to complete one or more business combinations within 36 months of the effectiveness of its IPO registration statement, Coliseum’s securities would be subject to suspension and delisting at the opening of business on July 5, 2024, unless Coliseum timely requested a hearing before the Nasdaq Hearings Panel. Coliseum requested a hearing before the Hearing Panel, which took place on August 8, 2024. On August 14, 2024, the Nasdaq Hearings Panel notified Coliseum that it granted Coliseum’s request for continued listing on Nasdaq and an exception to Nasdaq IM-5101-2. Specifically, Coliseum had 180 days from the date of the delisting notice, or until December 23, 2024, to complete its initial business combination, provided that Coliseum provides the Hearings Panel with certain progress updates relating to the status of the Business Combination.

Results of Operations

We have neither engaged in any operations nor generated any operating revenues to date. Our only activities for the period from February 5, 2021 (inception) through September 30, 2024 were organizational activities, those necessary to prepare for the initial public offering described below and, after the initial public offering, identifying a target company for a business combination. We do not expect to generate any operating revenues until after the completion of the Business Combination. We will generate non-operating income in the form of investment income on cash, cash equivalents and investments held after our initial public offering and will recognize other income and expense related