Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 1107

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 7
Chunk 1107
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 Warrants were
exchanged into warrants to purchase 5,000,000 of Holdco Class A Common Stock.

F-14

Redemption 

 Prior to the Closing, certain Coliseum public
shareholders exercised their right to redeem certain of their outstanding shares for cash, resulting in the redemption of 1,063,698 Coliseum
public shares for an aggregate payment of approximately $12.1 million. After redemptions, there was a total of 723,414 Coliseum public
shares and an aggregate of approximately $8.25 million remaining in Coliseum Trust Account, and was later converted into Holdco Class
A Common Stock in connection with the Business Combination.

Transaction Proceeds

The following table reconciles the elements of
the Business Combination to the consolidated statements of cash flows and the consolidated statement of changes in stockholders’
equity for the year ended December 31, 2024:

    Cash-Trust Account, net of redemptions 
    $8,251,024 
  
    Less: transaction costs and professional fees, paid directly from Trust Account 
     (4,270,760)
  
    Net proceeds received from Trust 
     3,980,264 
  
    Less: private placement warrant liabilities 
     (350,000)
  
    Less: related party notes 
     (2,558,340)
  
    Less: accounts payable and accrued expenses 
     (2,113,096)
  
    Reverse recapitalization, net 
    $(1,041,172)

The number of shares of Common Stock issued immediately
following the consummation of the Business Combination were:

    Class A 
Common Stock  
    Class B 
Common Stock 
  
    Coliseum Public Shares, outstanding prior to the Business Combination 
     1,787,112  
     - 
  
    Less: Redemption of Coliseum Class A common stock 
     (1,063,698) 
     - 
  
    Public shares of Coliseum, including 361,556 shares subject to the Forward Purchase Agreement (as described below) 
     723,414  
     - 
  
    Coliseum Founder Shares, outstanding prior the Business Combination 
     3,750,000  
     - 
  
    Coliseum Private Placement Warrants converted to Class A Common shares 
     806,250  
     - 
  
    Business Combination shares 

    RWT Shares