secwatch.observer — SEC 8-K summary
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Issuer:     Fortune Rise Acquisition Corp (—)
CIK:        0001849294
Form:       8-K
Filed at:   2024-11-06T23:59:59+00:00
Accession:  0001683168-24-007682
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01, 5.03, 5.07, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortune Rise Acquisition to delist from Nasdaq; stockholders approve extension to May 2025
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- Received Nasdaq delisting notice for failing to complete business combination within 36 months; trading suspended Nov 11.
- Stockholders approved charter extension to May 5, 2025; Sponsor to fund monthly $0.06/share deposits.
- Holders of 2,319,365 shares redeemed at ~$11.49/sh, totaling ~$26.6M.
- Business combination with Water on Demand (WODI) continues; parties working to complete deal.
- FRLA will trade on OTC market; intends to apply for Nasdaq uplisting after deal close.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1849294/000168316824007682/0001683168-24-007682-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1849294/000168316824007682/fortune_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-007682

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