Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 1113

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 7
Chunk 1113
---
 Permitted Transferees (as defined in the Holdco A&R Articles) 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.

Holdco Preferred Stock

As of December 31, 2024 and 2023, there was no
preferred shares outstanding, as retroactively restated to reflect the Business Combination.

Holdco Class A Common Stock

In connection with the Business Combination,
Holdco converted an aggregate of (i) 723,414 Coliseum public shares and (ii) 3,750,000 Coliseum founder shares into Holdco Class A Common
Stock on a one-to-one ratio and also converted 3,750,000 Coliseum private placement warrants into 806,250 Holdco Class A Common Stock,
for an aggregate of 5,279,664 shares of Holdco Class A Common Stock.

Also, in connection with the Business Combination,
Holdco also converted an aggregate of 1,232 shares of RWT legacy preferred stock and 250 shares of RWT legacy Class A common stock into
2,125,539 shares of Holdco Class A Common Stock based on an exchange ratio equal to approximately 1,434.

F-18

In addition, at Closing, the Company issued 5,000
shares of Holdco Class A Common Stock to a third-party consulting firm. Holdco estimated that the fair value of such shares was approximately
$57,000, based on the redemption price of approximately $11.41 at Closing.

As of December 31, 2024 and 2023, the Company
had an aggregate of 7,528,761 and 1,766,554 shares of Class A Common Stock issued and outstanding, as retroactively restated to reflect
the Business Combination, respectively.

Holdco Class B Common Stock

As of December 31,