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Fortune Rise Acquisition Corp. Class A (FRLA) has shared an announcement.
Fortune Rise Acquisition Corporation has managed to secure an additional month, until July 5, 2024, to complete its initial business deal by depositing $100,000 into its trust account for public shareholders. This deposit, constituting the eighth of twelve possible monthly extensions, also led to the company issuing a non-interest-bearing promissory note to Water On Demand, Inc. The note, which can be converted into shares of the company, is payable upon the earliest of the business combination’s consummation or the company’s liquidation. The news was publicized through a press release on June 6, 2024.
For a thorough assessment of FRLA stock, go to TipRanks’ Stock Analysis page.