Company: RAIN
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044438
Chunk: 77

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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 and outstanding immediately prior to Closing was assumed by the Company and became exercisable for shares of Holdco Class A Common Stock.

d)On the Closing Date, each private placement warrant of Coliseum (the “Coliseum Private Placement Warrants”) was exchanged for 0.25 shares of Holdco Class A Common Stock.

e)On the Closing Date, (i) each outstanding share of RWT’s preferred stock, par value $0.0001 per share, and RWT’s Class A common stock, par value $0.0001 per share, issued and outstanding immediately prior to Closing was converted into the right to receive a number of shares of Holdco Class A Common Stock equal to the Exchange Ratio (as defined below) and (ii) each share of RWT’s Class B common stock, par value $0.0001 per share, issued and outstanding immediately prior to Closing was converted into the right to receive a number of shares of Holdco’s Class B Common Stock, par value $0.0001 per share (“Holdco Class B Common Stock” and together with the Holdco Class A Common Stock, the “Holdco Common Stock”), equal to the Exchange Ratio. The “Exchange Ratio” was approximately 1,434 shares of Holdco Common Stock for every outstanding share of RWT’s common stock. Following the Closing, an aggregate of 1,232 shares of RWT’s preferred stock and 250 shares of RWT’s Class A common stock were converted into 2,125,539 shares of Holdco Class A Common Stock, and an aggregate of 40 shares of RWT’s Class B common stock were converted into 57,752 shares of the Company’s Class B Common Stock.

f)At Closing, each of the 1,500 RWT stock options outstanding was converted into 2,150,838  stock options of the Company on the same terms and conditions as were in effect with respect to RWT option immediately prior to Closing, except that the exercise price per share of such Company option is equal to the quotient of (x) the exercise price per share of such RWT option in effect immediately prior to Closing divided by (y) the Exchange Ratio (the exercise price per share, as so determined, being rounded up to the nearest full cent), which is equal to an exercise price of $2.06 per share.

PIPE Subscriptions

In connection with the Business Combination, in
December