Company: RAIN
Filing Date: 2025-02-12
Form Type: 424B3
Source: 0001213900-25-012904
Chunk: 116

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-02-12
Form: 424B3
Chunk 116
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 parties entered into an Amendment to the Business Combination Agreement. Pursuant to the Business Combination Agreement, as amended, among other things and subject to the terms and conditions contained therein, (i) on the day immediately prior to the Closing Date, the SPAC Merger will occur, whereby Coliseum will merge with and into Merger Sub 1 with Merger Sub 1 surviving the SPAC Merger as a direct, wholly owned subsidiary of Holdco, and (ii) on the Closing Date, following the SPAC Merger and as a part of the same overall transaction, the Company Merger will occur, whereby Merger Sub 2 will merge with and into RET with RET surviving the Company Merger as a direct, wholly owned subsidiary of Holdco so that, immediately following the completion of the Business Combination, each of Merger Sub 1 and RET will become a wholly-owned subsidiary of Holdco.

On December 31, 2024, the
Business Combination was completed pursuant to the terms of the Business Combination Agreement.

Subscription Agreements

On August 23, 2024, RET
entered into subscription agreements with Rainwater LLC (which is solely controlled by Paul Dacier), and affiliates of Harry You and
Niccolo de Masi to sell an aggregate of 250 shares of 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. RET received aggregate proceeds of $415,000 and recorded $450,000 in subscription receivable as of September
30, 2024.

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Restatement of Previously Issued Financial Statements

RET restated its financial statements as of and for the year ended December 31, 2023 and as of December 31, 2022 and for the period from November 10, 2022 (inception) through December 31, 2022. The change in accounting for the correction of the error in calculating the gross deferred tax asset and offsetting valuation allowance and the lack of noted disclosures did not have any impact on