8-K
filed June 2, 2023, 7:59 PM ET
CIK 0001849294
other material
confidence high
sentiment neutral
materiality 0.50
Fortune Rise SPAC shareholders approve extension; ~$17.9M redeemed at ~$10.76/share
Fortune Rise Acquisition Corp
- Extension amendment reduces monthly payment to lower of $100k or $0.05 per unredeemed share.
- 1,666,080 public shares redeemed for ~$17.9M (redemption price ~$10.76/share).
- Trust retains ~$38.9M after redemptions; 3,614,952 public shares remain outstanding.
- Adjournment proposal also passed but not used; Special Meeting quorum of 65.17%.
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 0.95
Fortune Rise Acquisition Corp: Fortune Rise Acquisition Corporation filed an amendment to its amended and restated certificate of incorporation to adjust the monthly extension amounts paid by the sponsor from $0.0625 per unredeemed share to the lower of $100,000 or $0.05 per unredeemed share of Class A common stock (effective 2023-06-02).
- Change
- charter amendment
- Effective
- 2023-06-02
Exact text from the filing
On June 2, 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 amend the monthly extension amounts to be paid by Fortune Rise Sponsor LLC, a Delaware limited liability company (the “ Sponsor ”) (or its affiliates), to extend the period of time for the Company to consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving the Company to be made upon the request of the Sponsor, and approval by the Company’s board of directors, from an amended price per unredeemed share of Class A common stock of $0.0625 to the lower of $100,000 or $0.05 per unredeemed share of Class A Common Stock.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Fortune Rise Acquisition Corp shareholders voted on Approve adjournment of the Special Meeting if necessary at the 2023-06-02 meeting.
- Meeting
- 2023-06-02
Exact text from the filing
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 Amendment Proposal. For Against Abstained 5,478,838 1,375,478 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Fortune Rise Acquisition Corp shareholders approved Approve and adopt the Extension Amendment at the 2023-06-02 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-06-02
Exact text from the filing
Proposal 1. To approve and adopt the Extension Amendment Proposal. For Against Abstained 5,468,633 1,385,479 203
View on SEC.gov
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