# EDGAR Filing Document

**Accession Number:** 0001849294
**File Stem:** 0001104659-23-029573
**Filing Date:** 2023-3
**Character Count:** 7616
**Document Hash:** 36554640d4222938ca7fd5856a249b12
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-029573.hdr.sgml**: 20230307

**ACCESSION NUMBER**: 0001104659-23-029573

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230301

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**FILED AS OF DATE**: 20230307

**DATE AS OF CHANGE**: 20230307

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fortune Rise Acquisition Corp
- **CENTRAL INDEX KEY:** 0001849294
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 861850747
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40990
- **FILM NUMBER:** 23712910

**BUSINESS ADDRESS:**
- **STREET 1:** 48 BRIDGE STREET
- **STREET 2:** BUILDING A
- **CITY:** BUILDING A
- **STATE:** NJ
- **ZIP:** 08840
- **BUSINESS PHONE:** (909)214-2482

**MAIL ADDRESS:**
- **STREET 1:** 48 BRIDGE STREET
- **STREET 2:** BUILDING A
- **CITY:** BUILDING A
- **STATE:** NJ
- **ZIP:** 08840

?xml version="1.0" encoding="utf-8"?

**United States**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 8-K**

**Current Report**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**March 1, 2023**

Date of Report (Date of earliest event reported)

**FORTUNE RISE ACQUISITION CORPORATION**

(Exact Name of Registrant as Specified in its Charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-40990** | **86-1850747** |
| (State or other jurisdiction of<br> incorporation) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification No.) |

---

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| | |
|:---|:---|
| **13575 58th Street North, Suite 200 <br> Clearwater, Florida**  | **33760** |
| (Address of Principal Executive Offices) | (Zip Code) |

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Registrant's telephone number, including area code: **727-440-4603**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act: None.

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on <br> which registered** |
| Units, each consisting of one share of Class A Common Stock and one-half of one Warrant | FRLAU | The Nasdaq Stock Market LLC |
| Class A Common Stock, par value $0.0001 per share | FRLA | The Nasdaq Stock Market LLC |
| Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 | FRLAW | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** |

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***Director Resignation***

On March 1, 2023, Payam Eshraghian resigned from all positions within Fortune Rise Acquisition Corporation, a Delaware corporation (the "**Company**"). There was no known disagreement with Mr. Eshraghian on any matter relating to the Company's operations, policies or practices.

***Director Appointment***

On March 3, 2023, the remaining members of the Board of Directors (the "**Board**") of the Company appointed Philip Goodman as a Class I director to fill the vacancy left from Mr. Eshraghian's resignation. Mr. Goodman was also appointed to serve as a member of each of the Audit and Compensation Committees.

The following sets forth certain information concerning each Mr. Goodman's past employment history, and his qualifications for service on the Board.

**Philip Goodman**

Philip Goodman has been an officer or director of both public and private companies since 1973, when he became Vice President, Sales and Marketing of Digital Computer Controls (OTC). He was a cofounder and Chairman of the Board of FastComm Communications (OTC) until 1984. He co-founded Control Transaction Corporation, a company that was sold to GEAC; at that time GEAC was a $600 million conglomerate. Mr. Goodman served as VP of Sales and Marketing and member of the Board of Directors.

Mr. Goodman was a co-founder of Ardent Acquisition, an early SPAC. He was a member of the board, as well as a member of the audit committee. Ardent was a financial success with its merger into AvantAir.

Mr. Goodman has broad experience in creating, evaluating, restructuring and growing high technology and life science start-ups, turnarounds and established companies.

Most recently Mr. Goodman was a member of the Board of Directors and Chief Operating Officer, on a contract basis, of Oxford Biomedical Technologies. Sales and profits at Oxford more than doubled on his watch.

Mr. Goodman received an AA degree in the renowned 14 comps from the University of Chicago. He earned a BA from Miami University of Ohio in Anthropology, having studied Meta Linguistics. At Miami he was honored with membership in Phi Beta Kappa. He then studied engineering at Case Institute of Technology

Mr. Goodman was appointed as a director due to his experience with public companies.

The Company's directors are appointed for the remainder of the full term of the class of director to which the new directorship was added or in which the vacancy occurred and until his or her successor has been elected and qualified, subject, however, to such director's earlier death, resignation, retirement, disqualification or removal. The Company's officers are appointed by its Board of Directors and hold office until their successors are duly elected and qualified by the Board or until their earlier death, resignation, retirement, disqualification, or removal from office.

The Board recently approved director compensation in the amount of $10,000 per month (pro-rated from the date of acceptance/appointment).

***Chairman Appointment***

On March 3, 2023, Ronald J. Pollack was appointed as Chairman of the Board.

The Board recently approved Chairman compensation (in addition to director compensation) in the amount of $10,000 per month (pro-rated from the date of acceptance/appointment).

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **Fortune Rise Acquisition Corporation** | **Fortune Rise Acquisition Corporation** |
| Date: March 7, 2023 | By: | */s/ J. Richard Iler* |
|  | Name: | J. Richard Iler |
|  | Title: | Principal Executive Officer |

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