Company: RAIN
Filing Date: 2025-04-25
Form Type: 424B3
Source: 0001213900-25-035587
Chunk: 149

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-25
Form: 424B3
Chunk 149
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 Company determined to be the then-current fair market value based in part on a valuation from an independent third party valuation
firm, for an aggregate subscription amount of $865,000.

Issuance of Options

On August 23, 2024, RWT granted options to purchase
up to 1,000 shares of RWT Class A Common Stock to Harry You and options to purchase up to 500 shares of RWT Class A Common Stock to Niccolo
de Masi, in consideration for services provided to RWT. Each option has an exercise price of $2,955.78 per share, which the Company determined
to be the then-current fair market value, based in part on a valuation from an independent third party valuation firm.

Upon the Closing, such options became Options
of Holdco exercisable for shares of Class A Common Stock at an exercise price of $2.06 per share. The Options are fully vested and are
exercisable at any time for cash or on a cashless basis and expire 10 years after grant. The terms of the options are governed by the
terms of the 2024 Incentive Plan.

PIPE Subscription Agreements

In connection with the Business Combination, on
December 20, 2024 and December 23, 2024, Holdco entered into the PIPE Subscription Agreements with certain investors, including existing
shareholders of RWT and Coliseum and members of the Board, or the PIPE Investors pursuant to which, among other things, Holdco agreed
to issue and sell to the PIPE investors, and the PIPE Investors agreed to subscribe for and purchase in a private placement, an aggregate
of 83,429 shares of Class A Common Stock, at a purchase price of approximately $11.39 per share, which was the then-approximate per share
redemption price of Coliseum’s public shares in the Business Combination, for an aggregate of $950,000.

On December 31, 2024, Holdco entered into PIPE
Subscription Agreements with additional PIPE Investors pursuant to which, among other things, Holdco agreed to issue and sell to the PIPE
investors, and the PIPE Investors agreed to subscribe for and purchase in a private placement, an aggregate of 35,128 shares of Class
A Common Stock at a purchase price of approximately $11.39 per share, for an aggregate additional subscription amount of $400,000. Together
with the previous PIPE Subscription Agreements, the aggregate amount sold pursuant to the