Rain Enhancement Technologies signs LOI to combine with Tensor Networks in all-stock deal
RAIN•LOI to combine with Tensor Networks
Rain Enhancement Technologies Holdco entered a binding LOI to combine with private AI infrastructure security developer Tensor Networks.
Closing is targeted for Q1 2027, subject to due diligence, a definitive agreement, and Nasdaq listing-related approvals and conditions.
Deal terms and expected leadership changes
The transaction is structured as an all-stock deal, with Tensor Networks holders expected to own about 90% of fully diluted equity pre-financing.
A minimum $25 million equity or equity-linked financing is a closing condition, intended to fund Tensor Networks growth.
Tensor Networks CEO Eric Frazier is set to become CEO of RAIN, while RAIN CEO Randy Seidl is set to become president.
