Company: RAIN
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076727
Chunk: 79

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 79
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 shares of Holdco Class
B Common Stock are entitled to vote. Additionally, for so long as the RWT Founders (Paul T. Dacier, Harry L. You, and Niccolo de Masi,
or their affiliates) hold at least 20% of the number of shares of Holdco Class B Common Stock collectively held by them as of the
Closing, the RWT Founders have rights that are different from unaffiliated shareholders, including the right to fill vacancies on the
Holdco Board and to call special meetings of shareholders. The Holdco A&R Articles permits action by written consent of the shareholders
and requires that amendments to the Holdco A&R Articles be approved by a majority of the shares of Holdco Common Stock entitled to
vote in lieu of two-thirds of the shares of Holdco Common Stock entitled to vote on the matter after the date on which the issued and
outstanding Class B Common Stock represents less than 50% of the total voting power of the then outstanding shares of capital stock entitled
to vote.

The dual class structure will terminate on December
31, 2029, or earlier (i) at the option of the holder at any time, (ii) automatically on the date on which the RWT Founders or their
Permitted Transferees collectively own twenty percent (20%) or less of the number of shares of Holdco Class B Common Stock collectively
held by such persons or their Permitted Transferees immediately after the completion of the Business Combination, (iii) automatically
upon the occurrence of a transfer of Holdco Class B Common Stock that is not a Permitted Transfer, and (iv) automatically on the date
specified by the affirmative vote of the holders of Holdco Class B Common Stock representing not less than two-thirds (2∕3) of the
voting power of the Holdco Class B Common Stock. The Holdco Class A Common Stock and the Holdco Class B Common Stock have identical economic
rights, including dividend and liquidation rights.

15

RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS

JUNE 30, 2025

Holdco Preferred Stock

As of June 30, 2025 and December 31, 2024, there
was no preferred shares outstanding, as retroactively restated to reflect the Business Combination.

Holdco Class A Common Stock