Fortune Rise Acquisition Corporation Announces Fourth One-Month Extension Received From Sponsor Affiliate To Complete Its Initial Business Combination
Portfolio Pulse from Happy Mohamed
Fortune Rise Acquisition Corporation (FRLA) has announced a fourth one-month extension to complete its initial business combination, funded by a $100,000 deposit from Water On Demand Inc., a subsidiary of OriginClear, Inc. (OTHER). The extension moves the deadline from August 5, 2023 to September 5, 2023. The contribution increases the pro rata portion of the funds available in the Company's trust account by $0.027 per share.
August 07, 2023 | 12:23 pm
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NEUTRAL IMPACT
FRLA has received a fourth extension to complete its initial business combination, funded by a $100,000 deposit from Water On Demand Inc., a subsidiary of OriginClear, Inc.
The extension gives FRLA more time to complete its initial business combination, which could potentially lead to increased shareholder value. However, it's unclear how the market will react to this news in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
OriginClear, Inc.'s subsidiary, Water On Demand Inc., has funded a $100,000 deposit for FRLA's fourth extension to complete its initial business combination.
OriginClear's subsidiary's contribution helps FRLA extend its deadline for the initial business combination. However, the short-term impact on OriginClear's stock is uncertain.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 75