Company: RAIN
Filing Date: 2025-08-14
Form Type: 424B3
Source: 0001213900-25-076764
Chunk: 21

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-08-14
Form: 424B3
Chunk 21
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WT issued a promissory
note (the “Note”) to its former CEO, Mr. You and Mr. de Masi for an aggregate amount of $600,000. The Note has an annual
interest rate of 5% and is currently due on demand.

On December 30, 2024, Holdco entered into a loan
agreement (the “Loan Agreement”) with RHY Management LLC (“RHY”), an affiliate of Harry You, Holdco’s Chairman,
pursuant to which RHY agreed to issue a line of credit (the “LOC”) to Holdco for up to $7 million, in addition to the
Rollover amount described below (such amounts borrowed under the LOC, together with the Rollover, the “Loan”). The Loan bears
interest at the greater of 5% per annum or the applicable IRS short-term rate in the month of each drawdown (“Interest Rate”),
payable quarterly in arrears. If a quarterly payment is missed, the loan balance increases by an amount equal to the principal multiplied
by the Default Rate (as defined below). If an event of default has occurred and is continuing, then upon written notice by RHY to Holdco,
the outstanding principal balance and any unpaid accrued interest will accrue interest at 2% above the Interest Rate (the “Default
Rate”).

Prior to closing of the Business Combination,
the outstanding amount that Coliseum and RWT owed to Mr. You and his affiliates was approximately $3.1 million. All of these outstanding
amounts (the “Rollover”) 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 a result,
as of December 31, 2024, the Company had approximately $3.1 million outstanding under the LOC, comprised solely of the Rollover amount.

As of June 30, 2025, the Company had drawn approximately
$2.4 million under the LOC, bringing the total outstanding balance under the Loan Agreement to approximately $5.5 million (including
the $3.1 million Rollover). Subsequent to June 30, 2025, the Company drew an additional amount of approximately $354,000 under
the LOC.

As of June 30, 2025 and December 31, 2024, the
Company had