Lei Xu - Dec 22, 2022 Form 4 Insider Report for Fortune Rise Acquisition Corp (FRLA)

Role
President, Chairwoman
Signature
/s/ Lei Xu
Stock symbol
FRLA
Transactions as of
Dec 22, 2022
Transactions value $
-$1,171
Form type
4
Date filed
1/12/2023, 05:12 AM
Previous filing
Jun 17, 2022
Next filing
Mar 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FRLA Class B Common Stock Sale -$1.17K -115K -83.19% $0.01* 23.2K Dec 22, 2022 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Lei Xu 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 114,800 shares of Class B Common Stock that Ms. Xu 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, Ms. Xu resigned as President and Chairwoman of the Issuer.