Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 22

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 22
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 new loans. Prior to each drawdown of the Commitment, pursuant to the Loan Agreement, the Company must certify to RHY,
among other things, that it has used its best efforts to raise equity, equity-linked, or debt financing on terms available in the market
to a similarly-situated company in similar circumstances, and is unable to obtain alternate financing in the amount of such drawdown.
Once amounts are borrowed, they may not be re-borrowed. Additionally, Mr. You agreed to roll over an aggregate of approximately $3.1 million
of loans and advances owed to him or to his affiliates by Coliseum and RET into the Loan Agreement and such amounts will be treated for
all purposes as loans outstanding pursuant to the Loan Agreement (which, for the avoidance of doubt, does not decrease the Commitment).
As of the date of this prospectus, the Company has not borrowed any of the $7 million available funding under the Commitment.

Immediately after giving
effect to the Business Combination, there were 7,471,678 shares of Class A Common Stock outstanding (7,515,588 shares after giving effect
to the additional PIPE closing on January 29, 2025), 57,752 shares of Class B Common Stock outstanding, 5,000,000 shares of Class A
Common Stock issuable upon the exercise of outstanding Warrants, and 2,150,838 shares of Class A Common Stock issuable upon the exercise
of outstanding Options.

In connection with the Business
Combination, 207,510 public holders of Coliseum Class A Ordinary Shares exercised their right to redeem those shares for a pro rata portion
of the cash in the Coliseum trust account, which equaled approximately $11.41 per share, for an aggregate redemption payment of approximately
$2.37 million. Previously, in connection with extensions of the time that Coliseum had to complete its initial business combination,
the following redemptions occurred: (i) in connection with the extension from June 25, 2023 to up to June 25, 2024, 9,121,799 shares were
redeemed at a per share price of approximately $10.38, for an aggregate redemption payment of approximately $94.7 million; (ii) in connection
with the extension from November 25, 2023 to up to September 25, 2024 (which extension removed prior required monthly extension payments),
3,001,840 shares were redeemed at a per