Company: RAIN
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044438
Chunk: 21

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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5,000,000 shares of Holdco Class
A Common Stock.

Redemption 

Prior to the Closing, certain Coliseum public
shareholders exercised their right to redeem certain of their outstanding shares for cash, resulting in the redemption of 1,063,698 Coliseum
public shares for an aggregate payment of approximately $12.1 million. After redemptions, there was a total of 723,414 Coliseum
public shares and an aggregate of approximately $8.25 million remaining in Coliseum’s trust account. Such remaining Coliseum
public shares were converted into Holdco Class A Common Stock in connection with the Business Combination, as described above.

Transaction Proceeds

For a reconciliation of the net proceeds from the Business Combination to the related changes in cash flows and stockholders’ deficit
as of the closing date, please refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

The number of shares of Common Stock issued immediately
following the consummation of the Business Combination were:

    Class A Common Stock  
    Class B Common Stock 
  
    Coliseum Public Shares, outstanding prior to the Business Combination 
     1,787,112  
     - 
  
    Less: Redemption of Coliseum Class A common stock 
     (1,063,698) 
     - 
  
    Public shares of Coliseum, including 361,556 shares subject to the Forward Purchase Agreement (as described below) 
     723,414  
     - 
  
    Coliseum Founder Shares, outstanding prior the Business Combination 
     3,750,000  
     - 
  
    Coliseum Private Placement Warrants converted to Class A Common shares 
     806,250  
     - 
  
    Business Combination shares 

    RWT Shares 
     2,125,539  
     57,752 
  
    Issuance of shares in connection with PIPE 
     118,557  
     - 
  
    Class A common stock issued for services 
     5,000  
     - 
  
    Common Stock immediately after the Business Combination 
     7,528,761  
     57,752 

13

RAIN ENHANCEMENT TECHNOLOGIES
HOLDCO, INC.

NOTES TO UNAUDITED CONDENSED
CONSOLIDATED FINANCIAL