David Xianglin Li - Dec 22, 2022 Form 4 Insider Report for Fortune Rise Acquisition Corp (FRLA)

Role
Director
Signature
/s/ David Xianglin Li
Stock symbol
FRLA
Transactions as of
Dec 22, 2022
Transactions value $
-$102
Form type
4
Date filed
1/12/2023, 05:09 AM
Previous filing
Nov 2, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FRLA Class B Common Stock Sale -$102 -10K -50% $0.01* 10K Dec 22, 2022 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

David Xianglin Li is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

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 10,000 shares of Class B Common Stock that Dr. Li transferred to Fortune Rise Sponsor LLC (the "Sponsor") pursuant to certain securities transfer agreement dated December 22, 2022 among Sponsor and certain initial stockholders of the Issuer. On the same day, Dr. Li resigned as director of the Issuer.