secwatch / observer
8-K filed April 13, 2023, 7:59 PM ET CIK 0001849294
other material confidence high sentiment negative materiality 0.70

Fortune Rise Acquisition extends deadline to Nov 6, 2023; ~4.5M shares redeemed for $47.5M

Fortune Rise Acquisition Corp

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Fortune Rise Acquisition Corp: Filing of Extension Amendment to extend business combination deadline up to November 6, 2023 (effective 2023-04-11).

Change
charter amendment
Effective
2023-04-11
Exact text from the filing
On April 11, 2023, Fortune Rise Acquisition Corporation, a Delaware corporation (the “ Company ”), filed with the Secretary of State of the State of Delaware an amendment (the “ Extension Amendment ”) to the Company’s amended and restated certificate of incorporation to extend the date by which the Company must consummate a Business Combination up to six times, each by an additional month, for an aggregate of six additional months (i.e. from May 6, 2023 up to November 6, 2023) or such earlier date as determined by the board of directors.
View on SEC.gov
Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Fortune Rise Acquisition Corp shareholders approved To approve the adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of the Extension Proposal at the 2023-04-10 meeting.

Outcome
passed
Meeting
2023-04-10
Exact text from the filing
On April 10, 2023, at the Special Meeting, a total of 10,514,410 (or 81.61%) of the Company’s issued and outstanding shares of Class A common stock and Class B common stock held of record as of March 3, 2023, the record date for the Special Meeting, were present either in person or by proxy, which constituted a quorum. The Company’s stockholders voted on the following proposals at the Special Meeting, each of which received sufficient votes (more than 65%) for approval. The final vote tabulation for each proposal is set forth below. Proposal 1. To approve and adopt the Extension Proposal. For Against Abstained 10,237,991 276,419 0 Proposal 2. To approve the adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of the Extension Proposal. For Against Abstained 10,237,991 276,419 0
View on SEC.gov
Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Fortune Rise Acquisition Corp shareholders approved To approve and adopt the Extension Proposal at the 2023-04-10 meeting.

Proposal
charter amendment
Outcome
passed
Meeting
2023-04-10
Exact text from the filing
On April 10, 2023, at the Special Meeting, a total of 10,514,410 (or 81.61%) of the Company’s issued and outstanding shares of Class A common stock and Class B common stock held of record as of March 3, 2023, the record date for the Special Meeting, were present either in person or by proxy, which constituted a quorum. The Company’s stockholders voted on the following proposals at the Special Meeting, each of which received sufficient votes (more than 65%) for approval. The final vote tabulation for each proposal is set forth below. Proposal 1. To approve and adopt the Extension Proposal. For Against Abstained 10,237,991 276,419 0 Proposal 2. To approve the adjournment of the Special Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of the Extension Proposal. For Against Abstained 10,237,991 276,419 0
View on SEC.gov

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Source: SEC EDGAR
accession 0001683168-23-002342
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