Veteran Financial Executive Brings Deep Public Company and Global Operations Expertise as RET Scales Commercial Deployment NAPLES, FLORIDA / ACCESS Newswire / December 18, 2025 / Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) ("RET" or the "Company"), a leading provider of ionization precipitation generation technology, today announced that David Sylvester, Senior Vice President and Chief Financial Officer of Steelcase Inc., has joined the Company's Board of Directors. This strategic appointment b ...

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Core Viewpoint - HNI Corporation has successfully completed its acquisition of Steelcase Inc. [1] Company Summary - HNI Corporation is expanding its portfolio through the acquisition of Steelcase Inc., indicating a strategic move to enhance its market position [1] - The acquisition is expected to strengthen HNI's capabilities and offerings in the office furniture sector [1] Industry Summary - The acquisition reflects ongoing consolidation trends within the office furniture industry, as companies seek to leverage synergies and expand their market reach [1] - This move may influence competitive dynamics in the industry, potentially leading to increased market share for HNI Corporation [1]

Group 1 - HNI Corporation is considered one of the best dividend stocks to buy, with an average price target suggesting a 65% upside and a Street high indicating a 78% upside [1][3] - On December 5, HNI and Steelcase Inc. announced that shareholders of HNI agreed to vote for the issuance of HNI common shares to Steelcase common stockholders under the Merger Agreement, with Steelcase shareholders also voting in favor [2][3] - The merger between HNI and Steelcase is set to conclude on December 10, 2025, following a strong majority backing from shareholders of both companies [3] Group 2 - HNI Corporation declared a quarterly dividend of $0.34 per share on November 5, which was distributed on December 1 to shareholders listed as of November 17 [4] - HNI designs, manufactures, and sells office furniture and residential building products primarily in the United States and Canada [4]

Core Viewpoint - HNI Corporation has announced a definitive agreement to acquire Steelcase, Inc. in a cash and stock transaction, with the acquisition expected to close on December 10, 2025 [1][4]. Group 1: Acquisition Details - The acquisition involves an exchange offer for Steelcase's existing 5.125% Notes due 2029, with HNI offering up to $450 million in new notes [1]. - Shareholders of both HNI and Steelcase voted in favor of the acquisition during their respective special meetings on December 5, 2025 [4]. - The acquisition is contingent upon the successful completion of the exchange offer and consent solicitation, which expired on December 5, 2025 [4][3]. Group 2: Exchange Offer and Consent Solicitation - HNI received sufficient consents to amend the Existing Steelcase Indenture to eliminate certain covenants and restrictive provisions [3]. - As of the expiration date, $351,008,000 of the Existing Steelcase Notes, representing 78% of the total, were validly tendered [6]. - The New HNI Notes will not be registered under the Securities Act and may only be offered under specific exemptions [7]. Group 3: Company Background - HNI Corporation has been in operation for over 75 years, focusing on workplace furnishings and residential building products [9]. - The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, while the Residential Building Products segment is the nation's leading manufacturer of hearth products [9].

Core Insights - HNI Corporation and Steelcase Inc. shareholders have approved proposals related to HNI's acquisition of Steelcase, indicating strong support for the transaction [1] Company Summary - HNI Corporation is moving forward with its proposed acquisition of Steelcase Inc., following shareholder approval [1] - The acquisition is expected to enhance HNI's market position and operational capabilities within the office furniture industry [1] Industry Summary - The office furniture industry is witnessing consolidation as companies like HNI and Steelcase seek to strengthen their competitive edge through strategic acquisitions [1] - This acquisition reflects broader trends in the industry where companies are focusing on expanding their product offerings and market reach [1]

Core Points - HNI Corporation and Steelcase Inc. announced preliminary results of shareholder elections regarding merger consideration as part of their merger agreement dated August 3, 2025 [1][2] - The completion of the transaction is subject to approval by shareholders and customary closing conditions [1] Merger Consideration Details - Upon consummation of the transaction, each share of Steelcase class A common stock will be converted into the right to receive either Mixed Consideration, Cash Consideration, or Stock Consideration [2] - Mixed Consideration consists of 0.2192 shares of HNI common stock and $7.20 in cash [2] - Cash Consideration is calculated as $7.20 plus the product of 0.2192 and the volume-weighted average closing price of HNI common stock over a specified period [2] - Stock Consideration is the sum of 0.2192 and the quotient of $7.20 divided by the HNI common stock reference price [2] Election Results - As of the election deadline, 95,489,941 shares of Steelcase Common Stock elected to receive Mixed Consideration, including those who failed to make a proper election [6] - 8,018,090 shares elected to receive Cash Consideration [6] - 11,968,798 shares elected to receive Stock Consideration [6] Company Background - Steelcase Inc. is a global leader in design and manufacturing of workplace furnishings, aiming to improve work environments [4] - HNI Corporation has over 75 years of experience in manufacturing workplace furnishings and residential building products, operating in two segments: Workplace Furnishings and Residential Building Products [7]

Core Insights - India's young, tech-savvy workforce is identified as a significant global driver for workplace innovation, characterized by collaboration, competitive spirit, and creativity in problem-solving [1] - The physical office is evolving from a mere container for work to a space that fosters company culture and belonging, with design playing a crucial role in this transformation [2] - Steelcase emphasizes a commitment to circular design and sustainability, viewing "designing less" as a creative constraint that encourages adaptability and longevity in products [6][11] - The integration of AI in workplace design aims to enhance user experience while maintaining privacy, advocating for transparency and user empowerment in smart office environments [7][8] - The Indian market is seen as a fertile ground for innovative workplace concepts, particularly community-led workspaces that promote a sense of belonging, reflecting a more holistic approach to workplace design [10][12] Group 1: Workplace Dynamics - Collaboration and creativity are central to the Indian workforce, with a unique blend of technology and local design influences [1] - The new office design must support diverse communities and facilitate engagement, emphasizing the importance of space as an expression of organizational culture [2] Group 2: Sustainability and Design - A circular mindset in design encourages products that can adapt, be repaired, or recycled, focusing on modular systems and disassembly [6][11] - The challenge of balancing sustainability with commercial needs is addressed by viewing product longevity as a key design principle [3][6] Group 3: Technology and Privacy - Smart office designs should prioritize user privacy while enhancing convenience, advocating for opt-in approaches and data anonymization [7][8] - The role of technology in the workplace is to support collaboration and engagement without being intrusive [7] Group 4: Market Trends - The competitive yet collaborative nature of the Indian market is driving innovative workplace solutions, with younger generations demanding more conscious design choices [10][12] - Community-led workspaces are emerging as a significant trend, with India positioned to influence global workplace design through a mindful approach [10][12]

Core Insights - Ionik Corporation has completed the sale of its subsidiary Schiefer Media, Inc. (SCS) to PUSH Media USA Inc. for a purchase price of US$1.2 million, with net proceeds of US$0.75 million payable in cash on closing [1][3] Group 1: Transaction Details - The transaction includes the acquisition of substantially all assets of SCS, including client contracts, intellectual property, and goodwill, while the purchaser has assumed certain related liabilities [3] - Proceeds from the sale will be reinvested into Ionik's business to strengthen its balance sheet and support growth initiatives in Media Activation and Marketing Optimization platforms [3] Group 2: Strategic Focus - The sale reflects Ionik's strategy to evolve into a unified, data-driven marketing technology company, focusing on first-party data, omnichannel solutions, and AI-driven automation [2][3] - The CEO of Ionik emphasized that this move is part of a broader strategy to simplify and strengthen the business around scalable, technology-enabled performance marketing operations [3] Group 3: Company Overview - Ionik is a technology-driven marketing and advertising solutions company that connects brands, advertisers, and publishers through data-driven insights and advanced automation [4] - The company's platform integrates Media Activation and Marketing Optimization through an AI-Powered Data Engine, creating a seamless advertising ecosystem [5]

Core Viewpoint - HNI Corporation has announced a definitive agreement to acquire Steelcase, Inc. in a cash and stock transaction, which includes an offer to exchange existing Steelcase Notes for new HNI Notes [1][4]. Acquisition Details - The acquisition is subject to shareholder approvals from both HNI and Steelcase, antitrust approvals, and other customary closing conditions [4]. - HNI has initiated an exchange offer for up to $450,000,000 of existing Steelcase Notes, with a current tender amount of $350,767,000, representing 77.95% of the total [1][8]. Exchange Offer and Consent Solicitation - The expiration date for the exchange offer and related consent solicitation has been extended to December 5, 2025 [2]. - HNI received sufficient consents to amend the existing Steelcase Indenture on October 9, 2025, and the amendments will take effect upon the settlement date of the exchange offer [3]. Conditions and Extensions - The completion of the acquisition is not contingent upon the exchange offer or consent solicitation, but the exchange offer is subject to the acquisition's consummation [4][5]. - If the acquisition is not expected to close by the anticipated settlement date, HNI plans to extend the expiration date accordingly [5]. Eligible Holders and Documentation - The exchange offer and consent solicitation are directed towards "Eligible Holders," defined as qualified institutional buyers or non-U.S. persons outside the United States [9].