---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-119274"
form_type: "8-K"
ticker: "RAIN"
cik: "0002028293"
company_name: "Rain Enhancement Technologies Holdco, Inc."
filed_at: "2026-11-13T14:18:50+00:00"
generated_at: "2026-11-13T14:20:07.641107+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# RAIN to merge with Tensor Networks at $180M valuation; Tensor holders to own ~90% of combined company

## Summary
- RAIN, Merger Sub and Tensor Networks signed a merger agreement on Nov. 12, 2026; Tensor would become a wholly owned RAIN subsidiary, with closing expected in February 2027.
- Exchange ratio values RAIN at $20M and Tensor Networks at $180M; Tensor pre-merger holders to own ~90% of combined company, RAIN shareholders ~10% fully diluted.
- Closing conditions include at least $25M gross cash from Financing less Tensor SAFEs; Tensor may raise up to $5M via SAFEs pre-close; no definitive financing agreements signed yet.
- Governance: 7-member board (4 Tensor designees, 2 RAIN incl. Harry You as non-exec chairman, 1 mutual); Eric Frazier becomes CEO, Randy Seidl becomes President.
- Other terms: reverse stock split, Class B conversion, RAIN debt restructuring, name change; 2026 Equity Incentive Plan reserve 5%; lock-ups 18 months insiders, 12 months employees.

## SEC filing metadata
- accession: 0001213900-26-119274
- form_type: 8-K
- ticker: RAIN
- cik: 0002028293
- company_name: Rain Enhancement Technologies Holdco, Inc.
- filed_at: 2026-11-13T14:18:50+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.07, 7.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2028293/000121390026119274/0001213900-26-119274-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2028293/000121390026119274/ea0311946-8k425_rain.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-119274
- JSON: https://secwatch.observer/filing/0001213900-26-119274.json
- Plain text: https://secwatch.observer/filing/0001213900-26-119274.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.