Rain Enhancement Technologies and Tensor Networks Sign Binding Letter of Intent for Strategic Business Combination

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.

"When we brought this platform public, we said that our corporate structure was designed to allow us to acquire additional businesses or assets alongside Rain Enhancement Technologies, Inc. ("RET") - Tensor Networks is a cutting-edge technology company that is exactly that kind of opportunity," said Harry You, Chairman of the Board of RAIN. "As AI adoption accelerates across every sector, the security and reliability of the infrastructure underneath it is becoming a defining issue, and Tensor Networks has built real, patent-pending technology to address it. RET's work with data center customers is accelerating, and water is an increasingly important part of that conversation. Tensor Networks addresses a different piece of that same infrastructure picture, and having both under the RAIN platform gives us real depth in a market that matters more every year."

"This transaction is an important next step in building RAIN into a multi-technology platform," said Randy Seidl, Chief Executive Officer of RAIN. "Tensor Networks gives us a second growth engine alongside RET, and we believe that diversification is the right way to build long-term value for RAIN shareholders. I'm looking forward to partnering with Eric as we move quickly toward a definitive agreement."

Founded in 2019, Tensor Networks develops predictive AI infrastructure technology, including its patent-pending Predictive Tensor Control Plane (PTCP) and Tensor Network Quantum Gravity (TNQG) frameworks. Tensor Networks describes its approach as "Safe AI". PTCP combines predictive workload orchestration with topological caging, an approach designed to isolate AI workloads behind independent hardware boundaries intended to help contain threats and limit data exfiltration or lateral movement across AI infrastructure.