Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 137

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1
Chunk 137
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 weather data
to develop, improve and commercialize ionization rainfall generation technology. The Company plans to develop improvements on existing
rainfall generation technologies by introducing robust measurement tools, including software monitoring technology, machine learning,
rain gauges, and weather stations.

Business Combination Agreement

On December 31, 2024 (the “Closing Date”),
Coliseum Acquisition Corp, a Cayman Islands exempted company (“Coliseum”), Rain Enhancement Technologies, Inc., a Massachusetts
corporation (“RWT”), Rain Enhancement Technologies Holdco, Inc., a Massachusetts corporation (“Holdco”), Rainwater
Merger Sub 1, Inc., a Cayman Islands exempted company and wholly-owned subsidiary of Holdco (“Merger Sub 1”), and Rainwater
Merger Sub 2A, Inc., a Massachusetts corporation and wholly-owned subsidiary of Coliseum (“Merger Sub 2”) consummated the
previously announced business combination (the “Business Combination”) pursuant to the terms of the Business Combination
Agreement, dated as of June 25, 2024 (as amended on August 22, 2024, the “Business Combination Agreement”).

Pursuant to the Business Combination Agreement,
on the Closing Date, (i) Coliseum merged with and into Merger Sub 1, with Merger Sub 1 as the surviving company of such merger (the “SPAC
Merger”) and (ii) following the SPAC Merger and as a part of the same overall transaction, Merger Sub 2 merged with and into RWT,
with RWT as the surviving entity of such merger (the “Company Merger” and, together with the SPAC Merger, the “Mergers”),
and, after giving effect to such Mergers, each of Merger Sub 1 and RWT became a wholly owned subsidiary of Holdco (the time that the
SPAC Merger became effective being referred to as the “SPAC Merger Effective Time,” the time that the Company Merger became
effective being referred to as the “Company Merger Effective Time,” and the time after which both Mergers became effective
being referred to as the “Closing”). Following the Closing, Holdco holds all of the equity interests of RWT and Merger Sub
1.

The Business Combination was treated as a reverse
recapitalization in accordance with U.S. GAAP. Under this method of accounting, Coliseum was treated as the “acquired” company