Company: RAIN
Filing Date: 2025-05-16
Form Type: 424B3
Source: 0001213900-25-044498
Chunk: 34

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-05-16
Form: 424B3
Chunk 34
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, our Chairman, pursuant to which RHY committed to provide Holdco with up to $7 million
in new loans. Prior to each drawdown, pursuant to the Loan Agreement, Holdco must certify to RHY, among other things, that it has used
its best efforts to raise equity, equity-linked, or debt financing on terms available in the market to a similarly-situated company in
similar circumstances, and is unable to obtain alternate financing in the amount of such drawdown. Once amounts are borrowed, they may
not be re-borrowed. Additionally, Mr. You agreed to roll over an aggregate of approximately $3.1 million of loans and advances owed to
him or to his affiliates by Coliseum and RWT into the Loan Agreement and such amounts were treated for all purposes as loans outstanding
pursuant to the Loan Agreement (which, for the avoidance of doubt, does not decrease the $7 million commitment). The Loan has an interest
rate of 5%, and interest will be due and payable quarterly in arrears. As of March 31, 2025, we had drawn around $737,000 from the
LOC, bringing the total outstanding balance under the Loan Agreement to approximately $3.8 million (including the Rollover). Subsequent
to March 31, 2025, we drew an additional amount of approximately $554,000 under the LOC.

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Recent Developments

On April 1, 2025, the Board increased the size
of the Board from five to seven directors and appointed Mr. Marcus Peperzak and Mr. Robert Reardon to the Board to fill the resulting
vacancies.

In connection with their appointments to the
Board, Mr. Reardon and Mr. Peperzak each entered into the Director Agreements which are the form of agreement adopted by the Board in
April 2025 to govern the terms of service and compensation of our company’s non-employee directors. Additionally, effective as
of April 4, 2025, we entered into Director Agreements with Lyman Dickerson, Alexandra Steele, and Christopher Riley, each non-employee
members of the Board. Pursuant to the terms of the Director Agreements, we agreed to pay to each board member (i) subject to approval
by the Board and compensation committee of the Board (the “Compensation Committee”), a cash payment of $12,500 promptly
following attendance at each quarterly