OriginClear's Water On Demand And Fortune Rise Acquisition Corporation Announce Business Combination To Create Nasdaq-Listed Company
Portfolio Pulse from Happy Mohamed
Fortune Rise Acquisition Corporation (NASDAQ:FRLA) and OriginClear Inc. (OTC Other: OCLN) have announced a definitive business combination agreement with Water On Demand Inc. (WOD), a subsidiary of OriginClear. The combined company is valued at approximately $72 million. The proceeds will be used to develop the Water On Demand water-as-a-service network, grow the Modular Water and Progressive Water business units, and carry out an aggressive acquisition program. The transaction is expected to close in Q2 2024.
October 24, 2023 | 8:02 pm
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Fortune Rise Acquisition Corporation is entering into a business combination with OriginClear Inc. and its subsidiary, Water On Demand Inc. This could potentially increase the value of FRLA's shares.
The business combination could potentially increase the value of FRLA's shares as the combined company is valued at approximately $72 million. The proceeds will be used to develop the Water On Demand water-as-a-service network, grow the Modular Water and Progressive Water business units, and carry out an aggressive acquisition program.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
OriginClear Inc. is entering into a business combination with Fortune Rise Acquisition Corporation and its subsidiary, Water On Demand Inc. This could potentially increase the value of OCLN's shares.
The business combination could potentially increase the value of OCLN's shares as the combined company is valued at approximately $72 million. The proceeds will be used to develop the Water On Demand water-as-a-service network, grow the Modular Water and Progressive Water business units, and carry out an aggressive acquisition program.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100