Financing ·
On June 5, 2026, Rain Enhancement Technologies Holdco, Inc. entered into an agreement with RHY Management LLC, an…
RAINRain Enhancement Technologies Holdco, Inc.
On June 5, 2026, Rain Enhancement Technologies Holdco, Inc. entered into an agreement with RHY Management LLC, an affiliate of Chairman Harry You, to convert $4,000,000 of indebtedness into 1,612,903 shares of Class A common stock at a price of $2.48 per share. These shares are subject to transfer restrictions until December 31, 2026, or a qualifying corporate transaction. Additionally, the company issued 50,000 shares to interim CFO Oanh Truong and 490,000 shares to various directors, advisors, and a contractor as payment for deferred compensation. Total outstanding Class A common stock reached 10,283,984 shares as of June 5, 2026. The company operates in the weather modification industry, focusing on rain enhancement technologies.