Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 596

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 2
Chunk 596
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 U.S. GAAP. Under this method of accounting, Coliseum was treated as the “acquired” company
for financial reporting purposes. Accordingly, for accounting purposes, the Business Combination was treated as the equivalent of RWT
issuing stock for the net assets of Coliseum, accompanied by a recapitalization. The net assets of Coliseum were stated at historical
cost, with no goodwill or other intangible assets recorded.

The Company’s common stock and warrants
commenced trading on the Nasdaq Stock Market LLC under the symbols “RAIN” and “RAINW”, respectively, on January
2, 2025. Refer to Note 3, Business Combination, for additional details.

Recent Developments

Nasdaq Compliance Notices

On February 18, 2025, the Company received written
notice (the “MVLS Notice”) from Nasdaq which notified the Company that, for the 30 consecutive business days ended February
14, 2025, our market value of listed securities (“MVLS”) closed below the $50,000,000 MVLS threshold required for continued
listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(b)(2)(A) (the “MVLS Rule”).

In accordance with Nasdaq Listing Rule 5810(c)(3)(C),
the Company has 180 calendar days, or until August 18, 2025 (the “MVLS Compliance Period”), to regain compliance with the
MVLS Rule. The MVLS Notice notes that, to regain compliance, our MVLS must close at or above $50,000,000 for a minimum of ten consecutive
business days during the MVLS Compliance Period. The MVLS Notice further notes that if the Company is unable to satisfy the MVLS requirement
prior to such date, the Company may be eligible to transfer the listing of its securities to The Nasdaq Capital Market (provided that
the Company then satisfies the requirements for continued listing on that market). If the Company does not regain compliance by the end
of the MVLS Compliance Period, Nasdaq staff will provide written notice to the Company that its securities are subject to delisting. At
that time, the Company may appeal any such delisting determination to a hearings panel.

F-7

Also on February 18, 2025, we received written notice (the “MVPHS
Notice”) from Nasdaq that for the 30 consecutive business days ended February 14, 2025, our market value of