Company: RAIN
Filing Date: 2025-05-16
Form Type: 424B3
Source: 0001213900-25-044498
Chunk: 41

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-05-16
Form: 424B3
Chunk 41
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 paid in November 2022,
was recorded as a finite-lived intangible asset.

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Consulting Agreement for Rainfall Ionization Equipment

In November 2022, RWT entered into a consulting
agreement, which was later amended on December 8, 2022, to engage with its senior technology advisor (“Technical Advisor”).
RWT agreed to pay the Technical Advisor a one-time fee upon execution of the agreement (“First-time fee”) and a consulting
fee of AUD 250,000 per year (equivalent to approximately $170,000 as of the effective date), which was later amended to $186,000 in February
2025, as well as certain bonuses that will be paid upon reaching certain milestones.

In connection with the consulting agreement,
we also agreed to obtain from the Technical Advisor an irrevocable, perpetual, non-exclusive license under certain engineering designs
in connection with rainfall ionization equipment and systems. We fully paid this amount of $83,750 in June 2023.

Related Party Transactions

Note Payable and Line of Credit from Related Parties

On February 2, 2023, RWT issued a promissory
note (the “Note”) to its former CEO and 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 the
Loan Agreement with RHY, an affiliate of Harry You, our Chairman, pursuant to which RHY agreed to issue an LOC to Holdco for up to $7
million, in addition to the Rollover amount described below. The Loan has an interest rate of 5%, and interest will be due and payable
in arrears quarterly.

Prior to Closing, the outstanding amount that
Coliseum and RWT owed to Mr. You and his affiliates were: (i) approximately $1.7 million and approximately $333,000 of advances to Coliseum
and RWT, respectively, (ii) convertible note balance of $667,500 to Coliseum, and a portion under the Note discussed above of approximately
$216,000 to RWT (which amount includes $200,000 in principal and approximately $16,000 in accrued interest), and (iii) an outstanding
balance of $180,000 in accrued administrative fees to Coliseum, for a total of approximately $