v3.26.1
Fair Value Measurements
 6 Months Ended
Jun. 30, 2026
Fair Value Measurements [Abstract]  
Fair Value Measurements

Note 9 — Fair Value Measurements

 

Financial liabilities measured at fair value during the periods on a recurring basis consisted of the following as of June 30, 2026 and December 31, 2025:

 

    Fair Value Hierarchy        
    Level 1     Level 2     Level 3     Total  
Financial liabilities:                        
Warrant liabilities – Public Warrants   $ -     $ 925,000     $ -     $ 925,000  
Shortfall payment liability     -       -       20,636       20,636  
Total financial liabilities   $ -     $ 925,000     $ 20,636     $ 945,636  

 

December 31, 2025

 

    Fair Value Hierarchy        
    Level 1     Level 2     Level 3     Total  
Financial liabilities:                        
Warrant liabilities – Public Warrants   $ -     $ 1,250,000     $ -     $ 1,250,000  
Shortfall payment liability     -       -       20,636       20,636  
Total financial liabilities   $ -     $ 1,250,000     $ 20,636     $ 1,270,636  

 

The Warrants are listed on the Nasdaq under the ticker “RAINW”. As of June 30, 2026 and December 31, 2025, the fair value measurements for the Warrants were classified as Level 2 due to low trading volume.

 

During the three and six months ended June 30, 2026 and 2025, there were no transfers between levels of the fair value hierarchy.