Company: RAIN
Filing Date: 2025-05-16
Form Type: 424B3
Source: 0001213900-25-044498
Chunk: 42

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-05-16
Form: 424B3
Chunk 42
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3.1 million. The Rollover amounts were
assigned to and assumed by Holdco and are treated for all purposes as Loans outstanding under the Loan Agreement. The Rollover amount
does not reduce the $7 million funding available to the Company under the LOC. As of March 31, 2025, we had drawn approximately $737,000
from the LOC, bringing the total outstanding balance under the LOC to approximately $3.8 million (including the Rollover). Subsequent
to March 31, 2025, we drew down an additional amount of approximately $554,000 under the LOC.

Employment Agreement

On December 31, 2024, Holdco entered into a binding
offer letter (the “Offer Letter”) with its new CEO, Mr. Seidl effective January 2, 2025, pursuant to which Holdco agreed to
pay to the CEO (i) an annual salary of $500,000, (ii) an annual incentive bonus up to 200% of his base salary, (iii) a contingent bonus
payment of $5.0 million that will be issued under a form of an unsecured note payable (the “Officer Note”) on the earlier
of (x) the four-year anniversary of the Officer Note, subject to the CEO’s continued service with Holdco through such date, (y)
the date of a change in control of Holdco, and (z) the date of termination, if Holdco terminates the CEO’s employment without cause.
Holdco and Mr. Seidl agreed to replace the Officer Note, which was not yet issued, with a retention bonus agreement to better reflect
the nature of the commitment (“Retention Bonus”). As of March 31, 2025, the Retention Bonus has not been issued.

Board Agreement

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