secwatch.observer — SEC 8-K summary
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Issuer:     Rain Enhancement Technologies Holdco, Inc. (RAIN)
CIK:        0002028293
Form:       8-K
Filed at:   2026-11-13T14:18:50+00:00
Accession:  0001213900-26-119274
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 3.02, 3.03, 5.07, 7.01, 5.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2028293/000121390026119274/0001213900-26-119274-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2028293/000121390026119274/ea0311946-8k425_rain.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-119274

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer