Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 70

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1
Chunk 70
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 emerging growth company nor an emerging growth
company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting
standards used.

We will remain an emerging growth company until
the earlier of: (1) the last day of the fiscal year (a) following the fifth anniversary of the effectiveness of our registration statement
on Form S-4 in connection with the Business Combination, (b) in which we have total annual gross revenue of at least $1.235 billion,
or (c) in which we are deemed to be a large accelerated filer, which means the market value of our common equity that is held by non-affiliates
exceeds $700 million as of the end of the prior fiscal year’s second fiscal quarter; and (2) the date on which we have issued more
than $1.00 billion in non-convertible debt securities during the prior three-year period.

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Additionally, Holdco is a “smaller reporting
company” as defined in Item 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced
disclosure obligations, including, among other things, providing only two years of audited financial statements. Our status as a smaller
reporting company is determined annually. We will continue to qualify as a smaller reporting company through the following fiscal year
as long as (i) the market value of Common Stock held by non-affiliates (measured as of the end of the second quarter of the then current
fiscal year) does not exceed $250 million or (ii) our annual revenues for the most recently completed fiscal year do not exceed $100
million and the market value of Common Stock held by non-affiliates (measured as of the end of the second quarter of the then current
fiscal year) does not exceed $700 million. If we exceed these thresholds, we will cease to be a smaller reporting company as of the first
day of the following fiscal year.

We cannot predict if investors will find the
Class A Common Stock less attractive if Holdco chooses to rely on any of the exemptions afforded to emerging growth companies and smaller
reporting companies. If some investors find the Class A Common Stock less attractive because Holdco relies on any of these exemptions,
there may be a less active trading market for the Class A Common Stock and the market price of the Class A Common Stock may be more volatile
and may decline.

Item 1