secwatch.observer — SEC 8-K summary
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Issuer:     Fortune Rise Acquisition Corp (—)
CIK:        0001849294
Form:       8-K
Filed at:   2023-06-06T23:59:59+00:00
Accession:  0001683168-23-003950
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FRLA extends deadline to July 5 with $100K trust deposit; issues convertible note
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- Deposited $100,000 ($0.027/share) into trust account to extend business combination deadline from June 5 to July 5, 2023.
- Extension is second of six permitted one-month extensions under company's governing documents.
- Issued unsecured, non-interest bearing promissory note to Water On Demand, Inc. (sponsor affiliate) for $100,000.
- Note converts into Class A common shares at $10.00 per share; payable upon business combination or liquidation.
- Press release confirms funds increase pro rata portion available in trust by $0.027 per share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1849294/000168316823003950/0001683168-23-003950-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1849294/000168316823003950/fortune_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-003950

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer