Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 287

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 287
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 on the global economy, capital markets or other geopolitical conditions resulting from the Russian invasion of Ukraine, the Israel-Hamas conflict and subsequent sanctions or related actions, could adversely affect the Company’s operating activities.

Note 2 — Restatement of Previously Issued Financial Statements

After the initial filing of the Registration Statement on Form S-4, management discovered that there were discrepancies in the net loss amount presented in the previously issued unaudited condensed consolidated financial statements as of and for the three and nine months ended September 30, 2024 among the statements of operations, statement of changes in stockholders’ deficit, and statement of cash flows. The error affected the additional paid-in capital and accumulated deficit as of September 30, 2024 presented in the unaudited condensed consolidated balance sheet, general and administrative expenses, loss from operations, net loss, basic and diluted net loss per Class A common stock and basic and diluted net loss per Class B common stock for the three and nine months ended September 30, 2024 in the unaudited condensed consolidated statements of operations, additional paid-in capital and accumulated deficit as of September 30, 2024 in the statement of changes in stockholders’ deficit. Management determined that the discrepancies were caused by missed edits in the process of proofreading the Registration Statement.

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RAIN ENHANCEMENT TECHNOLOGIES, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

Therefore, the Company’s management and the Company’s Board of Directors concluded that the Company’s previously issued unaudited condensed consolidated financial statements as of and for the three and nine months ended September 30, 2024 as included in the Registration Statement on Form S-4, as filed with the SEC on November 25, 2024, should no longer be relied upon and that it is appropriate to restate such financial statements. As such, the Company is restating its unaudited condensed consolidated financial statements, and the accompanying applicable notes have been updated to reflect the effects of the restatement, as described below.

Adjustments

The restatement has no impact on the statement of cash flow for the nine months ended September 30, 2024. The effect of the adjustments to the balance sheet, statements of operations, and statement of changes in stockholders’ deficit are as follows:

Condensed Consolidated Balance Sheet as of September 30, 2024:

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