Rain Enhancement Technologies Holdco, Inc. amended its loan agreement with RHY Management LLC, increasing the line of credit commitment from $7 million to $10 million effective March 31, 2026.
Key takeaways
Amended Loan Agreement effective March 31, 2026, increases LOC from $7M to $10M.
Counterparty is RHY Management LLC, affiliate of Chairman Harry You, who owns >10% of Class A and B common stock.
Interest at greater of 5% per annum or IRS short-term rate, payable quarterly in arrears.
Default rate applies: 2% above interest rate upon notice if event of default continues.
Original Loan Agreement dated December 30, 2024.
Exhibit 10.1 contains full Amendment to Loan Agreement.