Friday, 24 March, 2023

Rainmaking Technology Startup Rainwater Tech To Go Public Via SPAC Merger

<p>Rain Enhancement Technologies Inc, a developer of systems that boost rainfall in arid regions, has agreed to combine with special purpose acquisition company (SPAC) dMY Technology Group VI. Led by, Mike Nefkens, Rain Enhancement Technologies plans to commercialize a method known as ground-based ionization that makes clouds drop more rain. The merger values Rainwater Tech at $200 million, with dMY VI using the $241 million it raised through its IPO in October 2021 .</p> <quillbot-extension-portal></quillbot-extension-portal>