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Form 8-K

sec.gov

8-K — Rain Enhancement Technologies Holdco, Inc.

Accession: 0001213900-26-066794

Filed: 2026-06-09

Period: 2026-06-05

CIK: 0002028293

SIC: 3590 (MISC INDUSTRIAL & COMMERCIAL MACHINERY & EQUIPMENT)

Item: Entry into a Material Definitive Agreement

Item: Unregistered Sales of Equity Securities

Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — ea0294070-8k_rain.htm (Primary)

EX-10.1 — AGREEMENT TO CONVERT DEBT TO EQUITY, DATED JUNE 5, 2026, BETWEEN RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC. AND RHY MANAGEMENT LLC (ea029407001ex10-1.htm)

EX-10.2 — JOINDER TO LOCK-UP AGREEMENT, DATED JUNE 5, 2026, BETWEEN RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC. AND RHY MANAGEMENT LLC (ea029407001ex10-2.htm)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities

Exchange Act of 1934

Date of Report (Date of earliest event reported):

June 5, 2026

RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC.

(Exact name of registrant as specified in its charter)

Massachusetts

001-42460

99-3527155

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

4851 Tamiami Trail N, Suite 200

Naples, FL 34103

(Address of principal executive offices, including

zip code)

Registrant’s telephone number, including

area code: 339-222-6714

1659 Chinaberry Ct.

Naples, FL 34105

(Former name or former address, if changed since

last report)

Check the appropriate box below if the Form 8-K

filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A common stock, par value $0.0001 per share

RAIN

The Nasdaq Stock Market LLC

Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50

RAINW

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the

Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement

On June 5, 2026, Rain Enhancement Technologies

Holdco, Inc., a Massachusetts corporation (the “Company”), entered into an Agreement to Convert Debt to Equity (the

“Conversion Agreement”) with RHY Management LLC (“RHY”), a lender to the Company and an affiliate

of Harry You, the Company’s Chairman and a greater than 10% shareholder. Pursuant to the Conversion Agreement, on June 5, 2026,

RHY exchanged an aggregate of $4,000,000 of indebtedness owed by the Company to RHY into shares of Class A common stock, par value $0.0001

per share, of the Company (the “Class A Common Stock”), at a price per share equal to the volume-weighted average price

of the Class A Common Stock for the ten trading days preceding the date of the Conversion Agreement, which was $2.48 per share, for an

aggregate of 1,612,903 shares of Class A Common Stock.

In connection with the Conversion Agreement, on

June 5, 2026, RHY entered into a joinder to the lock-up agreement dated December 31, 2024 (the “Lock-Up Joinder”),

which provides that the shares of Class A Common Stock issued to RHY pursuant to the Conversion Agreement are subject to transfer restrictions

until the earlier of (x) December 31, 2026 and (y) the date on which the Company completes a liquidation, merger, capital stock exchange,

reorganization or other similar transaction that results in all of the Company’s shareholders having the right to exchange their

shares of common stock for cash, securities or other property.

The foregoing descriptions of the Conversion Agreement

and the Lock-Up Joinder do not purport to be complete and are qualified in their entirety by the full text of the Conversion Agreement

and Lock-Up Joinder, copies of which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K.

Item 3.02 Unregistered Sales of Equity Securities

The information contained in Items 1.01, 5.02

and 8.01 is incorporated by reference in this Item 3.02. The Class A Common Stock was issued in reliance on Section 4(a)(2) of the Securities

Act of 1933, as amended (the “Securities Act”), and/or Rule 506 of Regulation D promulgated under the Securities Act,

as a transaction by an issuer not involving a public offering.

Following the issuance of Class A Common Stock

pursuant to the Conversion Agreement and the grants of Class A Common Stock made to officers, directors, advisors, and consultants described

in Items 5.02 and 8.01 below, as of June 5, 2026, there were an aggregate of 10,283,984 shares of Class A Common Stock outstanding.

Item 5.02 Departure of Directors or Certain Officers; Election of

Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On June 5, 2026, the Company issued 50,000 shares

of Class A Comon Stock pursuant to the Rain Enhancement Technologies Holdco, Inc. 2024 Equity Incentive Plan to Oanh Truong, the Company’s

interim Chief Financial Officer, as consideration for Ms. Truong’s services to the Company.

Item 8.01 Other Events

On June 5, 2026, the Company issued an aggregate

of 490,000 shares of Class A Comon Stock pursuant to the Rain Enhancement Technologies Holdco, Inc. 2024 Equity Incentive Plan, as follows:

(i) 80,000 shares were issued to each of Lyman Dickerson, Alexandra Steele, Robert Reardon, and Marcus Peperzak, 50,000 shares were issued

to Christopher Riley, and 40,000 shares were issued to David Sylvester, each directors of the Company, as payment of director compensation

owed to them pursuant to their previously-disclosed Director Agreements which had been deferred, (ii) 50,000 shares were issued to Scott

Morris, the Company’s Senior Technology Advisor, as payment of deferred compensation, and (iii) 30,000 shares were granted to Christopher

Monroe, an independent contractor, as payment of deferred consideration.

Item 9.01. Financial Statements and Exhibits.

(d) The following exhibits are being filed herewith:

Exhibit

Number

Description

10.1

Agreement to Convert Debt to Equity, dated June 5, 2026, between Rain Enhancement Technologies Holdco, Inc. and RHY Management LLC.

10.2

Joinder to Lock-Up Agreement, dated June 5, 2026, between Rain Enhancement Technologies Holdco, Inc. and RHY Management LLC.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

1

SIGNATURES

Pursuant to the requirements

of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto

duly authorized.

Date: June 9, 2026

RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC.

By:

/s/ Randy Seidl

Name:

Randy Seidl

Title:

Chief Executive Officer

2

EX-10.1 — AGREEMENT TO CONVERT DEBT TO EQUITY, DATED JUNE 5, 2026, BETWEEN RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC. AND RHY MANAGEMENT LLC

EX-10.1

Filename: ea029407001ex10-1.htm · Sequence: 2

Exhibit 10.1

AGREEMENT

TO

CONVERT DEBT TO EQUITY

This Agreement to Convert

Debt to Equity (the “Conversion Agreement”) is entered into as of June 5, 2026, by and between RHY Management LLC (the

“Creditor”) and Rain Enhancement Technologies Holdco, Inc. (the “Company”).

RECITALS:

WHEREAS, the Creditor entered

into a loan agreement, dated as of December 30, 2024 (as amended, the “Loan Agreement”), pursuant to which (i) the

Creditor rolled over an aggregate of $3,064,403.66 of outstanding loans made by the Creditor and its affiliates to the Company and its

affiliates (the “Rollover Loan”) and (ii) the Creditor provided a line of credit loan in the amount of $7,000,000 (as

amended, the “Line of Credit Loan”);

WHEREAS, on March 11, 2026,

the compensation committee of the Company’s board of directors and the full board of directors approved repayment of the amounts

due under the Loan Agreement of up to 30% of any amount received by the Company from any potential future capital raise net of any underwriting,

legal, and accounting fees and related costs;

WHEREAS, effective as of March

31, 2026, the Company and the Creditor entered into an amendment to the Loan Agreement to increase the available amount of the Line of

Credit Loan from $7,000,000 to $10,000,000;

WHEREAS, pursuant to the Loan

Agreement, an aggregate of approximately $12,300,000 is outstanding as of the date of this Conversion Agreement (the “Outstanding

Debt”), which includes amounts borrowed under the Rollover Loan, the Line of Credit Loan, and accrued interest; and

WHEREAS, the Creditor and

the Company wish to convert $4,000,000 of the Outstanding Debt (the “Converted Debt”) into shares of Class A common

stock, par value $0.0001 per share, of the Company (the “Class A Common Stock”), at a price per share equal to the

volume-weighted average price of the Class A Common Stock for the ten trading days preceding the date of this Conversion Agreement (the

“VWAP”), which is $2.48 (the “Conversion Price”).

NOW, THEREFORE, for good and

valuable consideration, the parties hereby agree to the following:

(1) Conversion of Debt to Class A Common Stock. Effective as of the date of this Conversion Agreement, the Converted Debt shall

be converted into shares of Class A Common Stock (the “Conversion Shares”) at a price equal to the Conversion Price.

No fractional shares of Class A Common Stock will be issued pursuant to this Conversion Agreement. Cash shall be paid in lieu of issuing

fractional shares. Creditor and the Company acknowledge and agree that an aggregate of 1,612,903 Conversion Shares shall be issued to

the Creditor pursuant to this Agreement, and that the issuance and delivery of such Conversion Shares shall constitute full satisfaction

and repayment of the Converted Debt.

(2) Company Representations and Warranties. The Company represents and warrants to Creditor that:

a. The Company (i) is duly incorporated, validly existing as a company and in good standing under the laws of its jurisdiction of incorporation,

(ii) has the requisite power and authority to own, lease and operate its properties, to carry on its business as it is now being conducted

and to enter into, deliver and perform its obligations under this Conversion Agreement, and (iii) is duly licensed or qualified to conduct

its business and, if applicable, is in good standing under the laws of each jurisdiction (other than its jurisdiction of incorporation)

in which the conduct of its business or the ownership of its properties or assets requires such license or qualification, except, with

respect to the foregoing clause (iii), where the failure to be in good standing would not reasonably be expected to have a Company Material

Adverse Effect. For purposes of this Conversion Agreement, a “Company Material Adverse Effect” means an event, change,

development, occurrence, condition or effect with respect to the Company and its subsidiaries, taken together as a whole (on a consolidated

basis), that, individually or in the aggregate, would reasonably be expected to have a material adverse effect on the business, financial

condition, or results of operations of the Company or the Company’s ability to consummate the transactions contemplated hereby,

including the issuance and sale of the Conversion Shares.

b. The Conversion Shares have been duly authorized and, when issued and delivered to Creditor against full payment therefor in accordance

with the terms of this Conversion Agreement, will be validly issued, fully paid and non-assessable, free and clear of all liens or other

restrictions (other than those arising under this Conversion Agreement or applicable federal and state securities laws) and will not have

been issued in violation of or subject to any preemptive or similar rights created under the Company’s organizational documents

or the laws of its jurisdiction of incorporation.

c. This Conversion Agreement has been duly authorized, executed and delivered by the Company, and, assuming the due authorization, execution

and delivery of the same by the Creditor, shall constitute the valid and legally binding obligation of the Company, enforceable against

the Company in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, fraudulent conveyance,

reorganization, moratorium and similar laws affecting the rights of creditors generally and by the availability of equitable remedies.

d. The execution and delivery of this Conversion Agreement, the performance by the Company of its obligations under this Conversion Agreement,

the issuance and sale of the Conversion Shares and the compliance by the Company with all of the provisions of this Conversion Agreement

and the consummation of the transactions contemplated herein will not conflict with or result in a breach or violation of any of the terms

or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of

the property or assets of the Company pursuant to the terms of (i) any indenture, mortgage, deed of trust, loan agreement, lease, license

or other agreement or instrument to which the Company is a party or by which the Company is bound or to which any of the property or assets

of the Company is subject, (ii) the organizational documents of the Company, or (iii) assuming the accuracy of the representations and

warranties of Creditor in Section 3, any statute or any judgment, order, rule or regulation of any court or governmental agency

or body, domestic or foreign, having jurisdiction over the Company or any of its properties that, in the case of clauses (i) and (iii),

would reasonably be expected to have a Company Material Adverse Effect or materially affect the validity or enforceability of the Conversion

Shares or the ability or legal authority of the Company to comply in all material respects with this Conversion Agreement.

e. Assuming the accuracy of the representations and warranties of Creditor in Section 3, the Company is not required to obtain

any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal,

state, local or other governmental authority, self-regulatory organization (including Nasdaq) or other person in connection with the execution,

delivery and performance by the Company of this Conversion Agreement (including, without limitation, the issuance of the Conversion Shares),

other than filings required by applicable federal and state securities laws, and those of which the failure to obtain would not be reasonably

expected to have, individually or in the aggregate, a Company Material Adverse Effect.

2

f. Except for such matters as have not had or would not be reasonably expected to have a Company Material Adverse Effect, there is no

(i) suit, action, proceeding or arbitration before a governmental authority or arbitrator pending, or, to the knowledge of the Company,

threatened in writing against the Company or (ii) judgment, decree, injunction, ruling or order of any governmental authority or arbitrator

outstanding against the Company.

g. Assuming the accuracy of Creditor’s representations and warranties set forth in Section 3 of this Conversion

Agreement, no registration under the Securities Act is required for the offer and sale of the Conversion Shares by the Company to Creditor.

(3) Investor Representations. Creditor represents and warrants to the Company that:

a. Creditor (i) is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and (ii)

has the requisite power and authority to enter into and perform its obligations under this Conversion Agreement.

b. This Conversion Agreement has been duly executed and delivered by Creditor, and assuming the due authorization, execution and delivery

of the same by the Company, this Conversion Agreement shall constitute the valid and legally binding obligation of Creditor, enforceable

against Creditor in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,

moratorium and similar laws affecting creditors generally and by the availability of equitable remedies.

c. The execution and delivery of this Conversion Agreement, the purchase of the Conversion Shares and the compliance by Creditor with

all of the provisions of this Conversion Agreement and the consummation of the transactions contemplated herein will not conflict with

or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the creation or imposition

of any lien, charge or encumbrance upon any of the property or assets of Creditor pursuant to the terms of (i) any indenture, mortgage,

deed of trust, loan agreement, lease, license or other agreement or instrument to which Creditor is a party or by which Creditor is bound

or to which any of the property or assets of Creditor is subject; (ii) the organizational documents of Creditor; or (iii) any statute

or any judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over

Creditor or any of its properties that, in the case of clauses (i) and (iii), would reasonably be expected to have a Creditor

Material Adverse Effect. For purposes of this Conversion Agreement, a “Creditor Material Adverse Effect” means an event,

change, development, occurrence, condition or effect with respect to Creditor that would reasonably be expected to have a material adverse

effect on Creditor’s ability to consummate the transactions contemplated hereby, including the conversion of the Converted Debt

and purchase of the Conversion Shares.

d. Creditor (i) is an “accredited investor” under Rule 501(a)(3), (7), (8), (9) or (12) under the Securities Act, (ii) is

acquiring the Conversion Shares only for its own account and not for the account of others, and (iii) is not acquiring the Conversion

Shares with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act. Creditor

is not an entity formed for the specific purpose of acquiring the Securities.

3

e. Creditor understands that the Conversion Shares are being offered in a transaction not involving any public offering within the meaning

of the Securities Act and that the Conversion Shares have not been registered under the Securities Act. Creditor understands that the

Conversion Shares will be “restricted securities” and may not be offered, resold, transferred, pledged or otherwise disposed

of by Creditor absent an effective registration statement under the Securities Act, except pursuant to an applicable exemption from the

registration requirements of the Securities Act and in accordance with any applicable securities laws of the applicable states and other

jurisdictions of the United States, that the Conversion Shares will bear a restrictive legend until publicly sold, and as a result of

these transfer restrictions, Creditor may not be able to readily resell the Conversion Shares and may be required to bear the financial

risk of an investment in the Conversion Shares for an indefinite period of time. The Creditor understands that no assurance can be given

that any market for the Conversion Shares will be maintained.

f. In making its decision to convert the Converted Debt into the Conversion Shares, Creditor has relied solely upon independent investigation

made by Creditor. Creditor acknowledges and agrees that Creditor has received such information as Creditor deems necessary in order to

make an investment decision, including with respect to the Company and its subsidiaries. Creditor represents and agrees that Creditor

and Creditor’s professional advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain

such information as Creditor and such undersigned’s professional advisor(s), if any, have deemed necessary to make an investment

decision with respect to the Conversion Shares.

g. Creditor acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Conversion Shares,

including those described in the reports, forms, statements, schedules, prospectuses, proxies, registration statements and other documents

filed by the Company with the Commission from time to time (as amended, the “SEC Reports”). Creditor has such knowledge

and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Conversion

Shares, and Creditor has had an opportunity to seek, and has sought, such accounting, legal, business and tax advice as Creditor has considered

necessary to make an informed investment decision.

h. Creditor has adequately analyzed and fully considered the risks of an investment in the Conversion Shares, including those described

in the SEC Reports, and determined that the Conversion Shares are a suitable investment for Creditor and that Creditor is able at this

time and in the foreseeable future to bear the economic risk of a total loss of Creditor’s investment in the Company. Creditor acknowledges

specifically that a possibility of total loss exists.

(4) Lock-Up. In connection with the execution of this Conversion Agreement and the issuance of the Conversion Shares hereunder,

the Creditor shall enter into a joinder to the Lock-Up Agreement, dated as of December 31, 2024, by and among the Company and the shareholders

party thereto, which shall provide that the Conversion Shares are treated as “Lock-Up Shares” thereunder.

(5) Miscellaneous.

a. This Agreement shall be construed and enforced in accordance with the laws of the State of New York.

b. This Agreement constitutes the entire agreement between the parties and supersedes all prior oral or written negotiations and agreements

between the parties with respect to the subject matter hereof. No modification, variation or amendment of this Agreement (including any

exhibit hereto) shall be effective unless made in writing and signed by both parties.

c. This Agreement may be executed in any number of counterparts and may be delivered by facsimile transmission, all of which taken together

shall constitute a single instrument.

[Signature Page to Follow]

4

IN WITNESS WHEREOF, the parties

hereto have entered into this Conversion Agreement as of the date first written above.

RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC.

By:

/s/ Randal Seidl

Name:

Randal Seidl

Title:

Chief Executive Officer

RHY MANAGEMENT LLC

By:

/s/ Harry L. You

Name:

Harry L. You

Title:

Sole Member

EX-10.2 — JOINDER TO LOCK-UP AGREEMENT, DATED JUNE 5, 2026, BETWEEN RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC. AND RHY MANAGEMENT LLC

EX-10.2

Filename: ea029407001ex10-2.htm · Sequence: 3

Exhibit 10.2

JOINDER TO LOCK-UP AGREEMENT

June 5, 2026

Reference is made to the Lock-Up

Agreement, dated as of December 31, 2024, by and among Rain Enhancement Technologies Holdco, Inc. (the “Company”),

Coliseum Acquisition Corp., and the Securityholders (as defined therein) from time to time party thereto (as may be amended from time

to time, the “Lock-Up Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings

ascribed to such terms in the Lock-Up Agreement.

On or about the date hereof,

RHY Management LLC (the “Creditor”) entered into an Agreement to Convert Debt to Equity (the “Conversion Agreement”),

pursuant to which the Creditor and the Company agreed to convert an aggregate of $4,000,000 of outstanding debt owed by the Company to

the Creditor into an aggregate of 1,612,903 shares of the Company’s Class A common stock, par value $0.0001 per share (the “Conversion

Shares”), and in connection therewith the Creditor agreed to subject the Conversion Shares to the Lock-Up Agreement.

By executing this joinder,

the Creditor hereby agrees that, as of the date first set forth above, Creditor shall become a party to the Lock-Up Agreement in accordance

with Section 4 of the Conversion Agreement, and shall be bound by, and shall be subject to the transfer restrictions set forth in

the Lock-Up Agreement solely with respect to the Conversion Shares, in the same manner as if Creditor was an original signatory to the

Lock-Up Agreement and as if the Conversion Shares were “Lock-up Shares” thereunder.

Sections 8-13 of the Lock-Up

Agreement shall apply to this joinder mutatis mutandis. This joinder may be executed in multiple counterparts, including by means

of facsimile or electronic signature, each of which shall be deemed an original, but all of which together shall constitute the same instrument.

[Remainder of Page Intentionally Left Blank.]

IN WITNESS WHEREOF, the undersigned

have duly executed this Joinder as of the date first set forth above.

RAIN ENHANCEMENT TECHNOLOGIES HOLDCO, INC.

By:

/s/ Randy Seidl

Name:

Randy Seidl

Title

Chief Executive Officer

RHY MANAGEMENT LLC

By:

/s/ Harry You

Name:

Harry You

Title:

Sole Member

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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

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Indicate if registrant meets the emerging growth company criteria.

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Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.

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Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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Two-character EDGAR code representing the state or country of incorporation.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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Title of a 12(b) registered security.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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