Welcome to our dedicated page for Fortune Rise news (Ticker: FRLA), a resource for investors and traders seeking the latest updates and insights on Fortune Rise stock.
Fortune Rise Acquisition Corporation (FRLA) provides investors with centralized access to official news and regulatory filings related to this special purpose acquisition company. This resource aggregates all material developments, including updates on its liquidation process following the termination of its proposed water technology sector merger.
Key features include: Timely press releases, SEC filing notifications, and documentation related to corporate actions. Users gain insight into SPAC operational milestones, from initial public offering preparations to dissolution procedures mandated by its amended charter.
This page serves as an authoritative source for: Business combination attempt records, shareholder communication regarding asset distribution, and compliance updates during wind-down operations. Content is maintained to reflect the company's current status while preserving historical context about its strategic objectives.
Bookmark this page for streamlined tracking of FRLA's remaining corporate governance activities and access to permanent records of its SPAC lifecycle. Verify all information through linked primary sources and regulatory databases.
Fortune Rise Acquisition (FRLA) announced the termination of its Business Combination Agreement with Water On Demand, Inc. and its subsequent liquidation. The mutual termination was executed on December 9, 2024. As FRLA did not make the required monthly extension deposit on December 5, 2024, the company will cease operations and proceed with liquidation.
The company will redeem 100% of its Offering Shares at approximately $11.94 per share, with the trust account balance at approximately $10.0 million as of December 11, 2024. FRLA will retain $50,000 for dissolution expenses. The company has 843,183 remaining public shares. All warrants will expire worthless, and FRLA ceased operations on December 6, 2024.
Fortune Rise Acquisition (NASDAQ:FRLA) has received a one-month extension to complete its initial business combination, extending the deadline from November 5, 2024, to December 5, 2024. This extension was facilitated by Water On Demand Inc., a subsidiary of OriginClear Inc. and owner of Fortune Rise Sponsor , which deposited $50,590.98 ($0.06 per public share) into FRLA's trust account. The contribution was made as a non-interest bearing loan, repayable upon either the completion of an initial business combination or company liquidation. This is the first of six permitted monthly extensions following amendments made in November 2024.
Fortune Rise Acquisition (NASDAQ:FRLA) is progressing with its planned merger with Water On Demand Inc. (WODI), a subsidiary of OriginClear. FRLA stockholders have approved an extension to complete the de-SPAC transaction from November 5, 2024, to May 5, 2025. Due to Nasdaq rules requiring SPAC delisting after three years, FRLA will be delisted effective November 11, 2024. The Sponsor is working to transition FRLA to OTC trading while WODI's Nasdaq application for the post-combination company continues. The Business Combination Agreement, dated October 23, 2023, remains in effect.
Fortune Rise Acquisition (NASDAQ:FRLA) announced that Water On Demand Inc., a subsidiary of OriginClear, Inc. (OTC PINK:OCLN) and owner of its sponsor, Fortune Rise Sponsor , has deposited $100,000 into the Company's trust account. This deposit provides a one-month extension to complete FRLA's initial business combination, extending the deadline from October 5, 2024, to November 5, 2024.
The contribution increases the pro rata portion of funds available in the trust account by $0.032 per public share. This is the twelfth and final one-month extension permitted under the Company's governing documents, as amended in October 2023. The contribution is a non-interest bearing loan that will be repaid upon the earlier of the consummation of an initial business combination or the Company's liquidation.
Fortune Rise Acquisition (Nasdaq: FRLA) has received a one-month extension to complete its initial business combination. Water On Demand Inc., a subsidiary of OriginClear, Inc. (OTC: OCLN) and owner of FRLA's sponsor, has deposited $100,000 into FRLA's trust account. This extends the deadline from September 5, 2024, to October 5, 2024.
The contribution increases the pro rata portion of funds available in the trust account by $0.032 per public share. This is the eleventh of twelve permitted one-month extensions. The funds are provided as a non-interest bearing loan, repayable upon consummation of a business combination or liquidation.
Ryan Spick, CFO of FRLA, stated that this extension provides additional time to advance their business combination efforts and reaffirmed their commitment to building a significant technology company post-combination.
Fortune Rise Acquisition (Nasdaq: FRLA) has received a one-month extension to complete its initial business combination, extending the deadline from August 5, 2024, to September 5, 2024. This extension, the tenth of twelve permitted, was facilitated by a $100,000 deposit from Water On Demand Inc., a subsidiary of OriginClear, Inc. (OTC: OCLN) and owner of FRLA's sponsor.
The deposit, equivalent to $0.032 per public share, increases the pro rata funds available in the trust account. This non-interest bearing loan will be repaid upon the earlier of the business combination's consummation or the company's liquidation. Ryan Spick, CFO of FRLA, emphasized that this extension provides additional time to advance their business combination efforts and reaffirmed their commitment to building a significant technology company post-combination.
Fortune Rise Acquisition (Nasdaq: FRLA) announced that Water On Demand Inc., a subsidiary of OriginClear and owner of Fortune Rise Sponsor , has deposited $100,000 into the company's trust account. This payment extends the deadline for Fortune Rise Acquisition to complete its initial business combination from July 5, 2024, to August 5, 2024. This is the ninth of up to twelve possible one-month extensions allowed under the company's governing documents.
With this deposit, public stockholders receive an additional $0.032 per share in the trust account. The extension aims to provide Fortune Rise with more time to finalize its business combination. The deposit was made as a non-interest-bearing loan, repayable upon either the consummation of the business combination or the company's liquidation.
Fortune Rise Acquisition (NASDAQ:FRLA) announced a one-month extension to complete its initial business combination.
This extension, provided by Water On Demand, a subsidiary of OriginClear (OTC: OCLN), involves a $100,000 deposit into the Company's trust account.
The new deadline is July 5, 2024, marking the eighth of twelve permissible one-month extensions under FRLA's governing documents.
This contribution increases the pro rata portion of the trust funds by $0.032 per share, benefiting public stockholders.
The deposit is a non-interest bearing loan, repayable upon the business combination's completion or the Company's liquidation.
FRLA's CFO, Ryan Spick, highlighted the importance of this extension in advancing their business combination efforts and creating significant shareholder value.
Fortune Rise Acquisition (Nasdaq:FRLA) announced an extension to complete its initial business combination, with Water On Demand Inc. depositing $100,000 into the trust account for public stockholders, extending the deadline to June 5, 2024. This seventh extension adds $0.032 per share to the trust account, funded as a non-interest bearing loan. CFO Ryan Spick highlighted the commitment to advancing business combination efforts and generating shareholder value.
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