Lei Xu - Nov 5, 2021 Form 4 Insider Report for Fortune Rise Acquisition Corp (FRLA)

Role
President, Director
Signature
/s/ Lei Xu
Stock symbol
FRLA
Transactions as of
Nov 5, 2021
Transactions value $
$184
Form type
4
Date filed
11/8/2021, 06:46 PM
Previous filing
Nov 2, 2021
Next filing
Jun 17, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FRLA Class B Common Stock Purchase $184 +18K +15% $0.01* 138K Nov 5, 2021 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Class B common stock will automatically convert into Class A common stock on one-for-one basis, subject to certain adjustments as provided in the 2nd amended and restated certificate of incorporation of Fortune Rise Acquisition Corporation (the "Issuer") upon the consummation of an initial business combination.
F2 Representing 18,000 shares of Class B Common Stock that Fortune Rise Sponsor LLC (the "Sponsor") transferred to the reporting person pursuant to certain securities transfer agreement dated November 2, 2021 among Sponsor and certain initial stockholders of the Issuer (the "Securities Transfer Agreement"), in connection with the exercise of over-allotment option in full by underwriters on November 5, 2021.
F3 Including (i) 18,000 shares acquired on November 5, 2021 and (ii) 120,000 shares acquired from the Sponsor on November 2, 2021 pursuant to the Securities Transfer Agreement.