Fortune Rise Acquisition announced that Water On Demand Inc., a privately-held subsidiary of OriginClear, and owner of its sponsor, Fortune Rise Sponsor. has deposited the required $100,000 into the Company’s trust account for the benefit of its valued public stockholders which provides a one-month extension to complete the Company’s initial business combination. This additional contribution extends the date by which the Company has to complete its initial business combination for an additional one-month extension from August 5, 2023 to September 5, 2023. The extension is the fourth of the six one-month extensions permitted under the Company’s governing documents. Such contribution effectively increases the pro rata portion of the funds available in the Company’s trust account in the event of the consummation of an initial business combination, liquidation, or other redemption event, by $0.027 per share. The contribution was funded as a non-interest bearing loan that will either be paid upon earlier of consummation of an initial business combination or the Company’s liquidation.
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