---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-006078"
form_type: "8-K"
ticker: null
cik: "0001849294"
company_name: "Fortune Rise Acquisition Corp"
filed_at: "2023-08-25T23:59:59+00:00"
generated_at: "2026-06-11T03:39:19.140554+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Fortune Rise Acquisition receives Nasdaq notice for MVLS below $50M; faces delisting risk

## Summary
- On Aug 21, Nasdaq notified FRLA its MVLS was below $50M for 30 consecutive business days.
- Company has 180 days, until Feb 19, 2024, to regain compliance with the Market Value Standard.
- Previously, 1,666,080 public shares were redeemed at ~$10.76/share, leaving 3,614,952 public shares outstanding.
- FRLA may consider transferring listing to Nasdaq Capital Market if it meets requirements.
- Failure to regain compliance by deadline could result in delisting; appeal rights exist.

## SEC filing metadata
- accession: 0001683168-23-006078
- form_type: 8-K
- cik: 0001849294
- company_name: Fortune Rise Acquisition Corp
- filed_at: 2023-08-25T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1849294/000168316823006078/0001683168-23-006078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1849294/000168316823006078/fortune_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-006078
- JSON: https://secwatch.observer/filing/0001683168-23-006078.json
- Plain text: https://secwatch.observer/filing/0001683168-23-006078.txt

## Key facts
- Listing & Compliance Notices
  Fortune Rise Acquisition Corp received a nasdaq deficiency notice notice regarding market value (rules 5450(b)(2)(A), 5810(c)(3)(C)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: market value
  - Rules: 5450(b)(2)(A), 5810(c)(3)(C)
  source text: August 21, 2023, the Company received a written notice (the “Notice”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the Company’s Market Value of Listed Securities (“MVLS”) was below the minimum of $50 million required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(b)(2)(A) (the “Market Value Standard”). The Staff also noted that the Company does not meet the requirements under Nasdaq Listing Rule 5450(b)(3)(A) (Total Assets/Total R
  evidence_url: https://www.sec.gov/Archives/edgar/data/1849294/000168316823006078/0001683168-23-006078-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.