Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 21

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 21
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 of the Business Combination Agreement, (ii) each issued and outstanding share of RET Class B Common Stock (other than any shares held in the treasury of RET) was converted into approximately 1,434 shares of Class B Common Stock pursuant to the terms of the Business Combination Agreement, and (iii) pursuant to the terms of the Business Combination Agreement, each option exercisable for shares of RET Class A Common Stock became an Option exercisable for shares of Class A Common Stock on the same terms and conditions as were in effect with respect to such RET option immediately prior to the effective time of the Company Merger (including with respect to vesting and termination-related provisions), except that (A) such Option relates to such number of shares of Class A Common Stock (rounded down to the nearest whole share of Class A Common Stock) as is equal to (x) the number of shares of RET Class A Common Stock subject to such option multiplied by (y) approximately 1,434, and (B) the exercise price per share of such Option is equal to the quotient of (x) the exercise price per share of such option in effect immediately prior to the Company Merger Effective Time divided by (y) approximately 1,434 (the exercise price per share, as so determined, being rounded up to the nearest full cent).

On the Closing Date, pursuant to the Warrant Exchange Agreement, the Warrant Exchange occurred. Accordingly, as a result of the Warrant Exchange, on the Closing Date, the Company issued an aggregate of 806,250 shares of Class A Common Stock to the former holders of Coliseum Private Placement Warrants at the Closing and such Coliseum Private Placement Warrants were cancelled and no longer outstanding.

On the Closing Date, the Company closed on $700,000 of investment pursuant to the PIPE Subscription Agreements and issued an aggregate of 61,474 shares of Class A Common Stock to the PIPE Investors. On January 29, 2025, the Company closed an additional $500,000 of investment pursuant to the PIPE Subscription Agreements and issued an aggregate of 43,910 shares of Class A Common Stock to the PIPE Investors. The Company expects to close on the remaining $150,000 of investment irrevocably committed pursuant to the PIPE Subscription Agreements in the near term.

On December 30, 2024, the
Company entered into the Loan Agreement with RHY, an affiliate of Harry You, pursuant to which RHY committed to provide the Company with
up to $7 million of