Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 267

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 267
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UM ACQUISITION CORP.

NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2023</div>

The following tables reflect the calculation of basic and diluted net income per ordinary share (in dollars, except per share amounts):

| Basic and diluted                                        
 net income per ordinary share:                           
 Numerator:                                               |     | For                          
 the years ended December 31, 
 2023                         
 Class A                      
 ordinary                     
 shares subject               
 to possible                  
 redemption                   |           |     | Class B        
 and            
 non-redeemable 
 Class A        |           |     | 2022           
 Class A        
 ordinary       
 shares subject 
 to possible    
 redemption     |            |     | Class B        
 and            
 non-redeemable 
 Class A        |           |
|:---------------------------------------------------------|:----|:-----------------------------|----------:|:----|:---------------|----------:|:----|:---------------|-----------:|:----|:---------------|----------:|
| Allocation                                               
 of net income                                            |     | $                            | 2,247,409 |     | $              |   852,252 |     | $              |  6,076,994 |     | $              | 1,519,249 |
| Denominator:                                             |     |                              |           |     |                |           |     |                |            |     |                |           |
| Basic                                                    
 and diluted weighted average ordinary shares outstanding |     |                              | 9,888,845 |     |                | 3,750,000 |     |                | 15,000,000 |     |                | 3,750,000 |
| Basic                                                    
 and diluted net income per ordinary share                |     | $                            |      0.23 |     | $              |      0.23 |     | $              |       0.41 |     | $              |      0.41 |

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Deposit Insurance Corporation coverage of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations and cash flows.

Fair Value of Financial Instruments

The Company applies ASC Topic 820, Fair Value Measurement(“ASC 820”), which establishes a framework for measuring fair