METUCHEN, N.J., Nov. 1, 2022 /PRNewswire/-- Fortune Rise
Acquisition Corporation (NASDAQ: FRLAU) (the "Company"), announced
today that it plans to deposit an aggregate of $977,500 (the "Extension Payment") into the
Company's trust account for its public shareholders, representing
$0.10 per public share, which enables
the Company to extend the period of time it has to consummate its
initial business combination by three months from November 5, 2022 to February 5, 2023 (the "Extension").
About Fortune Rise Acquisition Corporation
Fortune Rise Acquisition Corporation is a newly organized blank
check company formed as a Delaware
corporation for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization, or
similar business combination with one or more businesses. The
Company is actively searching and identifying suitable Business
Combination target but has not selected any Business Combination
target. The company's efforts to identify a prospective target
business will not be limited to a particular industry or geographic
region, although the Company is prohibited from undertaking initial
business combination with any entity that conducts a majority of
its business or is headquartered in China (including Hong Kong and Macau).
Cautionary Note Regarding Forward-Looking Statements
This press release may include, and oral statements made from
time to time by representatives of the Company may include,
"forward- looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Statements regarding
possible business combinations and the financing thereof, and
related matters, as well as all other statements other than
statements of historical fact included in this press release are
forward-looking statements. When used in this press release, words
such as "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intend," "may," "might," "plan," "possible,"
"potential," "predict," "project," "should," "would" and similar
expressions, as they relate to us or our management team, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of management, as well as assumptions made by,
and information currently available to, the Company's management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company's filings with the Securities and Exchange
Commission ("SEC"). All subsequent written or oral forward-looking
statements attributable to us or persons acting on our behalf are
qualified in their entirety by this paragraph. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company's registration statement and
prospectus for the Company's initial public offering filed with the
SEC. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
Media Contact:
Yuanmei Ma
Chief Financial Officer
48 Bridge Street, Building A
Metuchen, New Jersey 08840
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SOURCE Fortune Rise Acquisition Corporation
