dMY Technology Group, Inc. VI (NYSE:DMYS) entered into an agreement to acquire Rain Enhancement Technologies, Inc. from Rainwater, LLC and others for $3 million on December 22, 2022. Under the terms of the transaction, buyer will purchase 1,700 shares of common stock of Rainwater Tech in exchange for 100 shares of Class A Common Stock of dMY VI and $790 in cash per share of common stock of Rainwater Tech. Rainwater Tech will become a wholly owned subsidiary of dMY VI Upon closing. The combined company is expected to retain the Rainwater Tech name. Once the business combination is completed, dMY VI will change its trading ticker from DMYS to the new ticker symbol “RANY.” Upon the closing of the business combination, Rainwater Tech will become publicly traded on the New York Stock Exchange under the new ticker symbol “RANY”. As of March 23, 2023, dMY intends to voluntarily delist its shares from the NYSE after the closing of its business combination with Rain Enhancement Technologies, Inc., and intends to transfer the listing of its Common Stock, Units and warrants to the Nasdaq, expected to be effective as of the closing of the Business Combination. Upon closing of the Business Combination, dMY VI will acquire Rainwater Tech and Rainwater Tech will become a wholly owned subsidiary of dMY VI. Upon closing of the Business Combination or shortly thereafter, dMY VI will change its name to “Rain Enhancement Technologies, Inc.” and once the Common Stock, Units and warrants have been authorized for listing on Nasdaq, change its tickers for shares of Common Stock, units and warrants to “RANY”, “RANY.U” and RANY.WS”, respectively. Rain Enhancement Technologies, Inc. reported total assets of $0.3 million and total stockholder's equity of $0.04 million as of December 1, 2022. Rainwater Tech's management team, led by Chief Executive Officer Mike Nefkens and Chief Product Officer Keri Waters, supported by Senior Technical Advisors Scott Morris and Ted Anderson, will continue to lead the public company following the transaction. On January 17, 2023, Rain Enhancement Technologies, Inc. and dMY Technology Group, Inc. VI announced that Jim Yong Kim has been nominated to join Rainwater Tech's Board of Directors upon closing of the transaction. dMY Technology Group, Inc. VI has commenced a tender offer to purchase up to 24,150,000 of its shares of Class A common stock, in connection with the Company's previously announced business combination with Rain Enhancement Technologies, Inc.The Tender Offer is being made pursuant to the Company's organizational documents, which require that in connection with the business combination, the Company provides its shareholders with the opportunity to tender their shares of Common Stock for a pro rata portion of the Company's trust account. The transaction is subject to regulatory approval, Common Stock Consideration shall have been approved for listing on NYSE, and other customary closing conditions. The transaction has been unanimously approved by dMY VI's Board of Directors. As of February 22, 2023, dMY announced that it has extended the expiration date of the tender offer to March 3, 2023, unless further extended or earlier terminated. Stephen J. Doyle of TCF Law Group, PLLC acted as legal advisor to Rain Enhancement Technologies and Rainwater. Kyle A. Harris and Adam Brenneman of Cleary Gottlieb Steen & Hamilton LLP acted as legal advisors to dMY. Continental Stock Transfer & Trust Company acted as depository bank while Morrow & Co., LLC acted as information agent to dMY.

dMY Technology Group, Inc. VI (NYSE:DMYS) cancelled the acquisition of Rain Enhancement Technologies, Inc. from Rainwater, LLC and others on April 5, 2023. No termination penalties were incurred by any party in connection with the termination of the Share Purchase Agreement.