Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 2000

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 16
Chunk 2000
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 Holdco Board, to call special
meetings of shareholders, and the Holdco A&R Articles permits action by written consent of the shareholders and requires that amendments
to the Holdco A&R Articles be approved by a majority of the shares of Holdco Common Stock entitled to vote in lieu of two-thirds
of the shares of Holdco Common Stock entitled to vote on the matter.

The Dual Class Structure will terminate on the
date that is five years after completion of the Business Combination, or earlier (i) at the option of the holder at any time, (ii)
automatically on the date on which the RWT Founders or their Permitted Transferees (as defined in the Holdco A&R Articles) collectively
own twenty percent (20%) or less of the number of shares of Holdco Class B Common Stock collectively held by such persons or their Permitted
Transferees immediately after the completion of the Business Combination, (iii) automatically upon the occurrence of a transfer of Holdco
Class B Common Stock that is not a Permitted Transfer, and (iv) automatically on the date specified by the affirmative vote of the holders
of Holdco Class B Common Stock representing not less than two-thirds (2∕3) of the voting power of the Holdco Class B Common Stock.
The Holdco Class A Common Stock and the Holdco Class B Common Stock have identical economic rights, including dividend and liquidation
rights.

Holdco Preferred Stock

As of December 31, 2024 and 2023, there was no
preferred shares outstanding, as retroactively restated to reflect the Business Combination.

Holdco Class A Common Stock

In connection with the Business Combination,
Holdco converted an aggregate of (i) 723,414 Coliseum public shares and (ii) 3,750,000 Coliseum founder shares into Holdco Class A Common
Stock on a one-to-one ratio and also converted 3,750,000 Coliseum private placement warrants into 806,250 Holdco Class A Common Stock,
for an aggregate of 5,279,664 shares of Holdco Class A Common Stock.

Also, in connection with the Business Combination,
Holdco also converted an aggregate of 1,232 shares of RWT legacy preferred stock and 250 shares of RWT legacy Class A common stock into
2,125,539 shares of Holdco Class A Common Stock based on an exchange ratio equal to approximately 1,434.

F-18

In addition