secwatch.observer — SEC 8-K summary
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Issuer:     Fortune Rise Acquisition Corp (—)
CIK:        0001849294
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001683168-23-007435
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortune Rise Acquisition extends business combination deadline to Nov 5, 2024; ~$5M redeemed
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- Stockholders approved extension to November 5, 2024 via monthly extensions; sponsor deposits lesser of $100k or $0.05 per non-redeemed share per month.
- Charter amended to remove net tangible asset limitation ($5,000,001) on redemptions or business combination.
- Trust agreement amended accordingly to allow extension and revised liquidation trigger.
- Holders of 452,404 shares redeemed for ~$10.96 per share, aggregate ~$5.0 million.
- Vote results: 5,409,906 FOR, 277,931 AGAINST on extension proposal; 5,687,838 FOR on removing limitation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1849294/000168316823007435/0001683168-23-007435-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1849294/000168316823007435/fortune_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-007435

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