Rain Enhancement Technologies completes combination with Coliseum Acquisition
Rain Enhancement Technologies Holdco, a company developing rainfall generation technology, announced that it has completed its previously announced business combination with Coliseum Acquisition Corp. (MITA), a publicly traded special purpose acquisition company. The transaction was approved by each party's board of directors and shareholders. The combined public entity will be named Rain Enhancement Technologies Holdco, Inc. and its Class A common stock and warrants are expected to commence trading on Nasdaq on January 2, 2025 under the new ticker symbols "RAIN" and "RAINW," respectively. Chris Riley, interim Chief Executive Officer of RET Holdco, stated, "We are incredibly proud to complete this transaction and become a U.S. listed company. This transformative step enables the next phase of growth at RET. We look forward to executing on our next chapter of growth, innovation, global expansion, and market leadership." Harry You, Chairman of the Board of Coliseum, stated, "As a public company, RET Holdco is well-positioned to help meet the global demand from private industries and governments for sustainable access to water. We are confident that the Company's rainfall ionization platform will not only play a role in addressing this demand, but also ultimately generate value to all of its stakeholders. We look forward to further innovating and deploying RET's technology as well as other cutting edge technologies."
