DMYS - DMYS STOCK NEWS

dMY Technology Group, Inc. VI (NYSE: DMYS) announced it will dissolve and liquidate after its independent Directors determined that continuing with the merger with Rain Enhancement Technologies, Inc. was not in the best interests of stakeholders. All Class A Common Stock shares will be redeemed at a cash price based on the trust account, extinguishing public stockholders’ rights. The redemption is expected to complete within ten business days from April 5, 2023, following necessary actions to liquidate the trust account. The company’s initial stockholders have waived their rights to liquidating distributions related to founder shares. Furthermore, dMY VI plans to file a Form 25 to delist its securities and a Form 15 to terminate registration under the Securities Exchange Act of 1934.

dMY Technology Group, Inc. VI (NYSE: DMYS) announced its plan to shift its stock exchange listing from the New York Stock Exchange to Nasdaq following the completion of its business combination with Rain Enhancement Technologies, Inc. Upon finalization, Rainwater Tech will become a wholly owned subsidiary of dMY VI, which will rebrand as Rain Enhancement Technologies, Inc. Additionally, the trading ticker will change from DMYS to RANY. The business combination aims to leverage Rainwater Tech's innovative rainfall generation technology, though challenges related to the technology's effectiveness and market viability remain significant.

Rain Enhancement Technologies, Inc. has partnered with Discovery Land Company to implement ionization rainfall generation technology at select properties globally. This initiative aims to improve rainfall by 16-18%, reducing reliance on municipal water and benefiting local communities. The partnership involves installing technology at three properties in H2 2023, with a minimum purchase agreement ensuring viable margins for Rainwater Tech. The collaboration aligns with Discovery's sustainable development goals, potentially lowering water costs while enhancing local water supplies.

Rain Enhancement Technologies, Inc. has appointed Doug Ireland as Chief Financial Officer (CFO), effective March 6, 2023. Ireland brings over 25 years of experience, enhancing financial leadership as Rainwater Tech prepares for growth. Previously the Head of Finance at Coalition, Inc., he holds CPA and CFA qualifications and has experience in high-growth tech firms. His mission aligns with Rainwater Tech's goal to address water scarcity through ionization rainfall generation technology. This transition comes as Rainwater Tech gets set to become publicly traded under the ticker symbol RANY following a business combination with dMY Technology Group, Inc. VI (NYSE: DMYS).

dMY Technology Group, Inc. VI (NYSE: DMYS) has extended the expiration date of its tender offer to purchase up to 24,150,000 shares of its Class A common stock at a purchase price of $10.231888 per share. This offer, in connection with its business combination with Rain Enhancement Technologies, Inc., will now expire on March 31, 2023. As of March 2, 2023, 4,770,940 shares were properly tendered. Shareholders who have already tendered need not re-tender their shares. Additionally, dMY VI released its audited annual financial statements for 2022 and intends to file its Annual Report on Form 10-K by March 31, 2023.

dMY Technology Group, Inc. VI (NYSE: DMYS) has extended the expiration date of its tender offer to purchase up to 24,150,000 shares of its Class A common stock to 5:00 p.m. New York City time on March 3, 2023. This extension pertains to the company's proposed business combination with Rain Enhancement Technologies, Inc. As of February 21, 2023, 327,361 shares were tendered. Shareholders who have tendered need not re-tender their shares, but they have the option to withdraw them. The complete tender offer details are available on the SEC's website.

dMY Technology Group, Inc. VI (NYSE: DMYS) has announced a Tender Offer to buy back up to 24,150,000 shares of its Class A common stock at a price derived from its Trust Account. The offer, which will expire on February 24, 2023, aims to provide shareholders an opportunity to exchange their shares for a pro rata portion of the Trust Account as it relates to the company’s Business Combination with Rain Enhancement Technologies, Inc. The closing price of DMYS shares was $10.08 on January 25, 2023. The offer is subject to certain conditions and is part of the company’s strategic efforts for the proposed Business Combination.

Rain Enhancement Technologies, Inc. has nominated Dr. Jim Yong Kim to its Board of Directors following its business combination with dMY Technology Group, Inc. VI (NYSE: DMYS). Dr. Kim, a former World Bank Group President, brings a wealth of experience in global economic development, climate change, and public health. CEO Mike Nefkens emphasizes that Dr. Kim's expertise will strengthen the board as Rainwater Tech seeks to commercialize its rainfall generation technology, which aims to provide reliable water access globally. The business combination is set to conclude soon, positioning Rainwater Tech for future growth.