Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 166

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 166
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 RET Class A Common Stock at a purchase price
of approximately $2,955.78 per share, which the Company determined to be the then-current fair market value based in part on a valuation
from an independent third party valuation firm, and 40 shares of RET Class B Common Stock at a purchase price of approximately $3,103.57
per share, which the Company determined to be the then-current fair market value based in part on a valuation from an independent third
party valuation firm, for an aggregate subscription amount of $865,000.

Issuance of Options

On August 23, 2024, RET granted
options to purchase up to 1,000 shares of RET Class A Common Stock to Harry You and options to purchase up to 500 shares of RET Class
A Common Stock to Niccolo de Masi, in consideration for services provided to RET. Each option has an exercise price of $2,955.78 per share,
which the Company determined to be the then-current fair market value, based in part on a valuation from an independent third party valuation
firm.

Upon the closing of the Business
Combination, such options became Options of Holdco exercisable for shares of Class A Common Stock at an exercise price of $2.06 per share.
The Options are fully vested and are exercisable at any time for cash or on a cashless basis and expire 10 years after grant. The terms
of the options are governed by the terms of the 2024 Incentive Plan.

Holdco’s Related Party Transactions

PIPE Subscription Agreements

In connection with the Business Combination, on December 20, 2024 and December 23, 2024, Holdco entered into the PIPE Subscription Agreements with certain investors, including existing shareholders of RET and Coliseum and members of the Board, or the PIPE Investors pursuant to which, among other things, Holdco agreed to issue and sell to the PIPE investors, and the PIPE Investors agreed to subscribe for and purchase in a private placement, an aggregate of 83,429 shares of Class A Common Stock, at a purchase price of approximately $11.39 per share, which was the then-approximate per share redemption price of Coliseum’s public shares in the Business Combination, for an aggregate of $950,000.

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On December 31, 2024, Holdco entered into PIPE Subscription Agreements with additional PIPE Investors pursuant to which, among other
things, Holdco