Combination Adds Patent-Pending AI Infrastructure Security Technology to RAIN's Platform; Eric Frazier and Randy Seidl to Lead Combined Company

NAPLES, FL AND SUNNYVALE, CA / ACCESS Newswire / September 23, 2026 / Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN), the leading provider of ionization weather modification technology, and Tensor Networks, Inc. ("Tensor Networks"), a privately held developer of predictive AI technology built around the company's "Safe AI" approach to infrastructure security, today announced that they have entered into a binding letter of intent (the "Binding LOI") for a business combination that would result in Tensor Networks becoming part of RAIN's publicly traded holding company upon closing. The transaction is anticipated to close in the first quarter of 2027, subject to customary closing conditions.

Upon closing, RET and Tensor Networks would each continue to operate as a wholly owned operating subsidiary of RAIN, pursuing its own commercial strategy under its own management team, rather than being operationally merged with one another - RAIN becoming a multi-technology holding company, not a combined rainfall-and-AI business. Each of the operating companies will leverage shared general and administrative resources.

The transaction also reflects the growing importance of securing the infrastructure that powers artificial intelligence. As AI adoption accelerates across government, defense, and enterprise networks, the systems that route and process AI workloads have become an increasingly attractive target. Tensor Networks says PTCP is designed to work alongside existing enterprise security platforms (SIEM) and to trigger hardware-level safeguards intended to help contain threats and limit lateral movement - an approach the company has developed and tested in part through three U.S. Air Force contracts it has been awarded and delivered against.