Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 1255

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 8
Chunk 1255
---
     125,000  
     - 
  
    Proceeds from issuance of Holdco Class A common stock in connection with PIPE subscriptions 
     700,000  
     - 
  
    Proceeds from reverse recapitalization 
     3,980,264  

    Payment of deferred financing costs 
     (75,000) 

    Payment of prepaid forward purchase agreements 
     (4,106,599) 

    Proceeds from issuance of common stock 
     -  
     1,998 
  
    Proceeds from issuance of Series A preferred stock 
     -  
     8,000 
  
    Proceeds from note payable 
     -  
     446,910 
  
    Repayment of note payable 
     -  
     (17,296)
  
    Net cash provided by financing activities 
     1,363,665  
     439,612 

    Net change in cash 
     (4,741) 
     (62,655)

    Cash - beginning of the year 
     37,345  
     100,000 
  
    Cash - end of the year 
    $32,604  
    $37,345 

See accompanying notes to the consolidated financial
statements

F-6

Note 1 — Description
of Organization and Business Operations

Description of Business

Rain Enhancement Technologies Holdco, Inc. (the
“Company” or “Holdco”) was formed in Massachusetts to combine unique expertise, personnel, and weather data
to develop, improve and commercialize ionization rainfall generation technology. The Company plans to develop improvements on existing
rainfall generation technologies by introducing robust measurement tools, including software monitoring technology, machine learning,
rain gauges, and weather stations.

Business Combination Agreement

On December 31, 2024 (the “Closing Date”),
Coliseum Acquisition Corp, a Cayman Islands exempted company (“Coliseum”), Rain Enhancement Technologies, Inc., a Massachusetts
corporation (“RWT”), Rain Enhancement Technologies Holdco, Inc., a Massachusetts corporation (“Holdco”), Rainwater
Merger Sub 1, Inc., a Cayman Islands exempted company and wholly-owned subsidiary of Holdco (“Merger Sub 1”), and Rainwater
Merger Sub 2A, Inc., a Massachusetts corporation and wholly-owned subsidiary of Coliseum (“Merger Sub 2”)