Harry L. You Increases Stake in Rain Enhancement Technologies via $4M Debt Conversion

On June 9, 2026, Harry L. You filed an amendment to his Schedule 13D reporting a significant increase in his holdings of Rain Enhancement Technologies Holdco, Inc. (RAIN). The increase was primarily driven by a debt-to-equity conversion agreement dated June 5, 2026. Under this agreement, RHY Management, LLC—an entity solely owned by Mr. You—exchanged $4,000,000 of indebtedness for 1,612,903 shares of Class A Common Stock at a conversion price of $2.48 per share. Following this transaction, Mr. You beneficially owns a total of 4,522,347 shares, representing approximately 38.52% of the company's Class A Common Stock. This total includes 650,120 shares held directly, shares held via RHY Management and Berto LLC, 237,956 shares held by the RHY Irrevocable Trust, and 1,433,892 shares issuable upon the exercise of vested options. The newly acquired shares are subject to a lock-up agreement effective until December 31, 2026, or until a qualifying liquidation or merger event occurs.