Fortune Rise Acquisition Corp: debt financing — Fortune Rise extends deadline to Mar 5, 2024 with $100K trust deposit from sponsor affiliate

Fortune Rise Acquisition Corp

$100,000 deposited into trust account ($0.032/share) extends deadline by one month from Feb 5 to Mar 5, 2024.
This is the fourth of twelve one-month extensions permitted under amended governing documents.
Non-interest bearing promissory note issued to Water On Demand (sponsor affiliate), convertible at $10.00/share.
No business combination announced; the loan proceeds increase pro-rata trust funds available.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Fortune Rise Acquisition Corp incurred loan of $100,000 with Water On Demand, Inc. at non-interest bearing maturing earlier of (i) consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company.

Instrument: loan
Principal: $100,000
Counterparty: Water On Demand, Inc.
Rate: non-interest bearing
Maturity: earlier of (i) consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company
Event: incurrence

Exact text from the filing

ompany issued an unsecured promissory note (the “ Note ”) to Water On Demand, Inc., a Nevada corporation and the entity which controls the Company’s sponsor.

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299 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001683168-24-000716

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