Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 167

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 167
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 agreed to issue and sell to the PIPE investors, and the PIPE Investors agreed to subscribe for and purchase in a private
placement, an aggregate of 35,128 shares of Class A Common Stock at a purchase price of approximately $11.39 per share, for an aggregate additional subscription amount of $400,000. Together with the previous PIPE Subscription
Agreements, the aggregate amount to be sold pursuant to the PIPE Subscription Agreements was approximately 118,557 shares of Class A Common
Stock for an aggregate investment amount of approximately $1,350,000.

On the Closing Date, the Company closed on $700,000 of investment pursuant to the PIPE Subscription Agreements and issued an aggregate of 61,474 shares of Class A Common Stock to the PIPE Investors. On January 29, 2025, the Company closed an additional $500,000 of investment pursuant to the PIPE Subscription Agreements and issued an aggregate of 43,910 shares of Class A Common Stock to the PIPE Investors. The Company expects to close on the remaining $150,000 of investment irrevocably committed pursuant to the PIPE Subscription Agreements in the near term.

The PIPE Investors include
an affiliate of Harry You, who was Coliseum’s chairman of the board and sponsor and a shareholder and lender to RET prior to Closing,
and is Holdco’s chairman of the Board and a shareholder and lender to Holdco after the Closing, an affiliate of Paul Dacier, who
was the President and sole director of Holdco and the President, director, and shareholder of RET prior to Closing, and Lyman Dickerson,
who is a member of Holdco’s Board after the Closing.

The PIPE Subscription Agreements
contain customary representations and warranties of each of Holdco and the PIPE Investors, and customary conditions to closing, including
the consummation of the Business Combination between Holdco, Coliseum and RET. The PIPE Investors are parties to, or signed joinders to,
the Registration Rights Agreement, described in more detail below, and accordingly, Holdco is obligated to use its commercially reasonable
efforts to file a registration statement to register for resale the shares of Class A Common Stock issued in the PIPE Investment within
30 days of the Closing and to cause such registration statement to be declared effective by the SEC as soon as practicable after the filing
thereof. The PIPE Investors also have demand and piggyback rights pursuant to the Registration Rights Agreement.

Warrant Exchange Agreement

On the Closing Date, pursuant to the Warrant Exchange Agreement