Fortune Rise Acquisition Corp: Nasdaq/NYSE listing notice — Fortune Rise Acquisition Corp faces delisting from Nasdaq over public holders deficiency; hearing requested

Fortune Rise Acquisition Corp

Nasdaq notified FRLA on April 16, 2024 it failed to comply with the 300 public holders rule by the April 13 extension deadline.
FRLA requested a hearing on April 19, 2024, which stays the suspension pending the Panel's decision.
Company previously transferred from Nasdaq Global Market to Capital Market in October 2023 after a similar notice.
Ongoing business combination with Water on Demand, Inc. was cited in the compliance plan but not yet completed.
No assurance that the Panel will grant continued listing; securities could be delisted.

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.97

Fortune Rise Acquisition Corp received a nasdaq deficiency notice notice regarding shareholders (rules 5450(a)(2), 5550(a)(3)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: shareholders
Rules: 5450(a)(2), 5550(a)(3)

Exact text from the filing

April 16, 2024, the Company received a written notice (the “Notice”) from the Staff notifying the Company that it did not regain compliance with the Public Holders Rule during the Extension Period. As a result, Nasdaq has advised the Company that its securities would be subject to delisting unless the Company timely requests a hearing before an independent Hearings Panel (the “Panel”). On April 19, 2024, the Company submitted a request for a hearing. The hearing request will stay the suspension of the Company’s securities and the termination of registration of the securities with Nasdaq as req

View on SEC.gov

Browse all listing & compliance notices →

Source: SEC EDGAR

accession 0001683168-24-002582

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.