Company: RAIN
Filing Date: 2025-02-12
Form Type: 424B3
Source: 0001213900-25-012904
Chunk: 298

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-02-12
Form: 424B3
Chunk 298
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, and both securities have par value of $0.0001.

On June 20, 2024, the Company amended its Articles of Organization (the “Articles”) and later amended again on August 23, 2024. According to the amended Articles of Organization, the Company is authorized to issue 20,000 shares of Class A common stock, par value $0.0001, 20,000 shares of Class B common stock, par value $0.0001, and 10,000 shares of preferred stock, par value $0.0001.

Former Series A Preferred Stock

Holders of Series A preferred stock were entitled to a number of votes equal to (a) the number of shares of common stock deemed outstanding divided by the number of shares of Series A preferred stock then outstanding, plus (b) one divided by the total preferred stock then outstanding. Each share of Series A preferred stock could be convertible, at the option of the holder at any time or automatically upon a sale of all outstanding stock or a merger, into shares of common stock on a one-to-one basis.

On April 14, 2023, the Company issued 200 shares of the Company’s of Series A preferred stock to Rainwater, LLC for a purchase price of $8,000. The Company has 200 shares of Series A preferred stock outstanding as of December 31, 2023, respectively.

On March 21, 2024, the Company converted all 200 shares of Series A preferred stock into 200 shares of common stock at the option of the holder.

Former Common Stock

On December 1, 2022, the Company issued 1 share of common stock to Rainwater, LLC for a purchase price of $100,000, which was recapitalized for 200 shares on December 6, 2022 and retroactively restated. On December 9, 2022, the Company issued an aggregate of 1,500 shares of the Company’s common stock to two of its executive officers for services performed by them for the Company. The Company estimated the fair value of such shares as approximately $970,000 based on probability-weighted discounted cash flow model and recognized stock-based compensation expense for such services to its executive officers within general and administrative expense in the accompanying unaudited condensed consolidated statements of operations.

On April 14, 2023, the Company issued 1,110 shares of the Company’s common stock to Rainwater, LLC for a purchase price of $