---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-002582"
form_type: "8-K"
ticker: null
cik: "0001849294"
company_name: "Fortune Rise Acquisition Corp"
filed_at: "2024-04-22T23:59:59+00:00"
generated_at: "2026-06-03T14:25:51.656480+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Fortune Rise Acquisition Corp faces delisting from Nasdaq over public holders deficiency; hearing requested

## Summary
- 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.

## SEC filing metadata
- accession: 0001683168-24-002582
- form_type: 8-K
- cik: 0001849294
- company_name: Fortune Rise Acquisition Corp
- filed_at: 2024-04-22T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1849294/000168316824002582/0001683168-24-002582-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1849294/000168316824002582/fortune_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-002582
- JSON: https://secwatch.observer/filing/0001683168-24-002582.json
- Plain text: https://secwatch.observer/filing/0001683168-24-002582.txt

## Key facts
- Listing & Compliance Notices
  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)
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1849294/000168316824002582/0001683168-24-002582-index.htm

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