Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 1159

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 7A
Chunk 1159
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,474 shares of Class A Common Stock to the PIPE Investors and recorded
a subscription receivable of $650,000 from two PIPE Investors for the purchase of 57,083 shares of Class A Common Stock. On January 29,
2025, the Company closed $500,000 of such subscription receivable pursuant to the PIPE Subscription Agreements and issued an aggregate
of 43,910 shares of Class A Common Stock to the PIPE Investors. On February 6, 2025, the Company closed on the remaining $150,000 of subscription
receivable pursuant to the PIPE Subscription Agreements and issued an aggregate of 13,173 shares of Class A Common Stock to the PIPE Investors.

65

The PIPE Investors include an affiliate of Harry You, who was Coliseum’s
chairman of the board and sponsor and a shareholder and lender to RWT prior to Closing, and is Holdco’s chairman of the Board and
a shareholder and lender to Holdco after the Closing, an affiliate of Paul Dacier, who was the President and sole director of Holdco and
the President, director, and shareholder of RWT prior to Closing, and Lyman Dickerson, who is a member of Holdco’s Board after the
Closing.

The PIPE Subscription Agreements contain customary representations
and warranties of each of Holdco and the PIPE Investors, and customary conditions to closing, including the consummation of the Business
Combination between Holdco, Coliseum and RWT. The PIPE Investors are parties to, or signed joinders to, the Registration Rights Agreement,
described in more detail below, and accordingly, Holdco is obligated to use its commercially reasonable efforts to file a registration
statement to register for resale the shares of Class A Common Stock issued in the PIPE Investment within 30 days of the Closing and to
cause such registration statement to be declared effective by the SEC as soon as practicable after the filing thereof. The PIPE Investors
also have demand and piggyback rights pursuant to the Registration Rights Agreement.

Warrant Exchange Agreement

On the Closing Date, pursuant to the Warrant Exchange Agreement, the
Coliseum Private Placement Warrants were exchanged for Class A Common Stock, at the Warrant Exchange. Accordingly, as a result of the
Warrant Exchange, on the Closing Date, the Company issued an aggregate of 806,250 shares of Class A Common Stock to the former holders
of Coliseum Private Placement Warrants at the Closing and such Coliseum Private Placement Warrants were cancelled and no