Document:

Exhibit 10.8

 

PRIVATE PLACEMENT SHARES PURCHASE AGREEMENT

 

THIS PRIVATE PLACEMENT SHARES PURCHASE AGREEMENT, dated as of [●],
2021 (as it may from time to time be amended, this “Agreement”), is entered into by and among Fortune Rise Acquisition Corporation,
a Delaware corporation (the “Company”), US Tiger Securities, Inc. (“US Tiger”) and EF Hutton Group, division of
Benchmark Investments, LLC (the “EF Hutton”, collectively with US Tiger, the “Investors”).

 

WHEREAS, the Company intends
to consummate a public offering of the Company’s units (the “Public Offering”), each unit consisting of one share of
the Company’s Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), and one-half of one redeemable
warrant, each warrant exercisable for one Share at an exercise price of $11.50 per Share, as set forth in the Company’s registration
statement on Form S-1 related to the Public Offering (the “Registration Statement”); and

 

WHEREAS, each of the Investors
has agreed to purchase from the Company 20,000 shares of Class A Common Stock (the “Private Shares”) upon the closing of the
Public Offering;

 

NOW THEREFORE, in consideration
of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:

 

Section 1. Authorization, Purchase and Sale; Terms of the Private Shares.

 

A. Authorization of the Private
Shares. The Company has duly authorized the issuance and sale of the Private Shares to the Investors.

 

B. Purchase and Sale of the Private Shares.

 

(i) As payment in full for
the 40,000 Private Shares, 20,000 Private Shares to each Investor, being purchased under this Agreement, each Investor shall pay $200,000
(the “Purchase Price”), by wire transfer of immediately available funds or by such other method as may be reasonably acceptable
to the Company, to the trust account (the “Trust Account”) at a financial institution to be chosen by the Company, maintained
by Wilmington Trust, National Association, acting as trustee, at least one (1) business day prior to the date of effectiveness of the
Registration Statement.

 

(ii) The closing of the purchase
and sale of the Private Shares shall take place simultaneously with the closing of the Public Offering at the offices of Hunter Taubman
Fischer & Li LLC, 800 Avenue Suite 2800, New York, New York 10022, or such other place as may be agreed upon by the parties hereto

 

C. Terms of the Private Shares.

 

(i) The Private Shares
are identical to the Class A Common Stock that are part of the units to be offered in the Public Offering except that: (a) the
Private Shares will not, except in limited circumstances, be transferable or salable until 30 days after the completion of the
Company’s initial business combination (the “Business Combination”) so long as they are held by the Investors or
their permitted transferees; and (b) the Private Shares are being purchased pursuant to an exemption from the registration
requirements of the Securities Act and will become freely tradable only after the expiration of the lockup described above in clause
(a) and they are registered pursuant to the Registration Rights Agreement (as defined below) or an exemption from registration is
available, and the restrictions described above in clause (a) have expired.

 

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(ii) At or prior to the time
of the Initial Closing Date, the Company and the Investors shall enter into a registration rights agreement (the “Registration Rights
Agreement”) pursuant to which the Company will grant certain registration rights to the Investors relating to the Private Shares.

 

Section 2. Representations and Warranties of the
Company. As a material inducement to the Investors to enter into this Agreement and purchase the Private Shares, the Company hereby represents
and warrants to the Investors (which representations and warranties shall survive the Closing Dates) that:

 

A. Organization and Corporate
Power. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and
is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse
effect on the financial condition, operating results or assets of the Company. The Company possesses all requisite corporate power and
authority necessary to carry out the transactions contemplated by this Agreement and the Registration Rights Agreement.

 

B. Authorization; No Breach.

 

(i) The execution, delivery
and performance of this Agreement, the Registration Rights Agreement and the Private Shares have been duly authorized by the Company as
of the Closing Dates. Each of this Agreement and the Registration Rights Agreement constitutes a valid and binding obligation of the Company,
enforceable in accordance with its terms. Upon issuance in accordance with, and payment pursuant to, the terms of this Agreement, this
Agreement will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of the Closing Dates,
as the case may be.

 

(ii) The execution and delivery
by the Company of this Agreement and the Registration Rights Agreement and the issuance and sale of the Private Shares and the fulfillment
of, and compliance with, the respective terms hereof and thereof by the Company, do not and will not as of the Closing Dates (a) conflict
with or result in a breach of the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any
lien, security interest, charge or encumbrance upon the Company’s capital stock or assets under, (d) result in a violation of, or
(e) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with, any court
or administrative or governmental body or agency pursuant to the certificate of incorporation or the bylaws of the Company (in effect
on the date hereof or as may be amended prior to completion of the contemplated Public Offering), or any material law, statute, rule or
regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject, except for any
filings required after the date hereof under federal or state securities laws.

 

C. Title to Securities.
Upon issuance in accordance with, and payment pursuant to, the terms hereof, each of the Private Shares will be duly and validly
issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Investors
will have good title to the Private Shares, free and clear of all liens, claims and encumbrances of any kind, other than (i)
transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and
state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions of the Investors.

 

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D. Governmental Consents.
No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is required in connection
with the execution, delivery and performance by the Company of this Agreement or the consummation by the Company of any other transactions
contemplated hereby.

 

Section 3. Representations and Warranties of the
Investors. As a material inducement to the Company to enter into this Agreement and issue and sell the Private Shares to the Investors,
each Investor hereby represents and warrants to the Company (which representations and warranties shall survive the Closing Dates) that:

 

A. Organization and Requisite
Authority. Each Investor possesses all requisite power and authority necessary to carry out the transactions contemplated by this Agreement.

 

B. Authorization; No Breach.

 

(i) This Agreement constitutes
a valid and binding obligation of each Investor, enforceable in accordance with its terms, subject to bankruptcy, insolvency, fraudulent
conveyance, reorganization, moratorium and other laws of general applicability relating to or affecting creditors’ rights and to
general equitable principles (whether considered in a proceeding in equity or law).

 

(ii) The execution and delivery
by each Investor of this Agreement and the fulfillment of and compliance with the terms hereof by such Investors do not and shall not
as of the Closing Dates conflict with or result in a breach by such Investor of the terms, conditions or provisions of any agreement,
instrument, order, judgment or decree to which such Investor is subject.

 

C. Investment Representations.

 

(i) Each Investors is acquiring
the Private Shares, for its own account, for investment purposes only and not with a view towards, or for resale in connection with, any
public sale or distribution thereof.

 

(ii) Each Investor acknowledges
the sale contemplated hereby is being made in reliance on a private placement exemption pursuant to Section 4(a)(2) of the Securities
Act of 1933, as amended (the “Securities Act”).

 

(iii) Each Investor understand
that the Private Shares are being offered and will be sold to it in reliance on specific exemptions from the registration requirements
of the United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and such Investor’s
compliance with, the representations and warranties of such Investor set forth herein in order to determine the availability of such exemptions
and the eligibility of such Investor to acquire such Private Shares.

 

(iv) Each Investor did not
enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502(c) under the Securities
Act.

 

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(v) Each Investor has been
furnished with all materials relating to the business, finances and operations of the Company and materials relating to the offer and
sale of the Securities which have been requested by such Investor. Each Investor has been afforded the opportunity to ask questions of
the executive officers and directors of the Company. Each Investor understands that its investment in the Private Shares involves a high
degree of risk and it has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision
with respect to the acquisition of the Private Shares.

 

(vi) Each Investor understand
that no United States federal or state agency or any other government or governmental agency has passed on or made any recommendation
or endorsement of the Private Shares or the fairness or suitability of the investment in the Private Shares by such Investor nor have
such authorities passed upon or endorsed the merits of the offering of the Private Shares.

 

(vii) Each Investor understand
that: (a) the Private Shares have not been and are not being registered under the Securities Act or any state securities laws, and may
not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder or (2) sold in reliance on an exemption
therefrom; and (b) except as specifically set forth in the Registration Rights Agreement, neither the Company nor any other person is
under any obligation to register the Private Shares under the Securities Act or any state securities laws or to comply with the terms
and conditions of any exemption thereunder. In this regard, such Investor understands that the Securities and Exchange Commission has
taken the position that promoters or affiliates of a blank check company and their transferees, both before and after an initial business
combination, are deemed to be “underwriters” under the Securities Act when reselling the securities of a blank check company.
Based on that position, Rule 144 adopted pursuant to the Securities Act would not be available for resale transactions of the Private
Shares despite technical compliance with the certain requirements of such Rule, and the Private Shares can be resold only through a registered
offering or in reliance upon another exemption from the registration requirements of the Securities Act.

 

(viii) Each Investor has such
knowledge and experience in financial and business matters, knowledge of the high degree of risk associated with investments in the securities
of companies in the development stage such as the Company, is capable of evaluating the merits and risks of an investment in the Private
Shares and is able to bear the economic risk of an investment in the Private Shares in the amount contemplated hereunder for an indefinite
period of time. Each Investor has adequate means of providing for its current financial needs and contingencies and will have no current
or anticipated future needs for liquidity which would be jeopardized by the investment in the Private Shares. The Investors can afford
a complete loss of its investments in the Private Shares.

 

(ix) Each Investor understand
that the Private Shares shall bear the following legend and appropriate “stop transfer restrictions”:

 

“THE SECURITIES
REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS
AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND
SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO LOCKUP
PROVISIONS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF DURING THE TERM OF THE LOCKUP.”

 

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Section 4. Conditions of the Investors’
Obligations. The obligations of the Investors to purchase and pay for the Private Shares are subject to the fulfillment, on or before
the Closing Dates, of each of the following conditions:

 

A. Representations and Warranties.
The representations and warranties of the Company contained in Section 2 shall be true and correct at and as of the Closing Dates as though
then made.

 

B. Performance. The Company
shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be
performed or complied with by it on or before the Closing Dates.

 

C. No Injunction. No litigation,
statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by
or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters
contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement.

 

Section 5. Conditions of the Company’s Obligations.
The obligations of the Company to the Investors under this Agreement are subject to the fulfillment, on or before the Closing Dates, of
each of the following conditions:

 

A. Representations and Warranties.
The representations and warranties of the Investors contained in Section 3 shall be true and correct at and as of the Closing Dates as
though then made.

 

B. Performance. The Investors
shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that are required to be
performed or complied with by the Investors on or before the Closing Dates.

 

C. No Injunction. No litigation,
statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by
or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters
contemplated hereby, which prohibits the consummation of any of the transactions contemplated by this Agreement.

 

D. Registration Rights Agreement.
The Company shall have entered into the Registration Rights Agreement on terms set forth in the Registration Statement.

 

Section 6. Termination. This Agreement may be
terminated at any time after ____, 2021 upon the election by either the Company or the Investors upon written notice to the other parties
if the closing of the Public Offering does not occur prior to such date.

 

Section 7. Survival of Representations and Warranties.
All of the representations and warranties contained herein shall survive the Closing Dates.

 

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Section 8. Definitions. Terms used but not otherwise
defined in this Agreement shall have the meaning assigned to such terms in the Registration Statement.

 

Section 9. Miscellaneous.

 

A. Successors and Assigns.
Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf of any of the
parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto whether so expressed or not. Notwithstanding
the foregoing or anything to the contrary herein, the parties may not assign this Agreement, other than assignments by the Investors to
affiliates thereof.

 

B. Severability. Whenever
possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but
if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only
to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C. Counterparts. This Agreement
may be executed simultaneously in two or more counterparts, none of which need to contain the signatures of more than one party, but all
such counterparts taken together shall constitute one and the same agreement.

 

D. Descriptive Headings; Interpretation.
The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement.
The use of the word “including” in this Agreement shall be by way of example rather than by limitation.

 

E. Governing Law. This Agreement
shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be construed in accordance with
the internal laws of the State of Delaware.

 

F. Amendments. This letter
agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by all parties
hereto.

  

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the parties hereto have executed
this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	FORTUNE RISE ACQUISITION CORPORATION
	 	 
	 	By:	               
	 	Name:	Lei Huang
	 	Title:	Director and CEO

 

	Investors:	 
	 	 
	US Tiger Securities, Inc.	 
	 	 
	By:	   	 
	Name: 	Dajiang Guo	 
	Title: 	Managing Director	 

 

	EF Hutton Group, division of Benchmark Investments, LLC
	 
	 	 
	 	 
	By:	         	 
	Name:	 	 
	Title:	 	 

 

[Signature Page to the Private Share Purchase Agreement]Exhibit 10.9

 

SECURITIES TRANSFER AGREEMENT

 

This Securities Transfer Agreement is dated as
of [ ], 2021 (this “Agreement”), by and among Fortune Rise Sponsor LLC, a Delaware limited liability company (the “Seller”),
and the parties identified on the signature page hereto (each a “Buyer” and collectively, the “Buyers”).

 

WHEREAS, the Seller is a sponsor of Fortune Rise
Acquisition Corporation, a Delaware corporation (the “Company”), a newly-organized blank check company, or special
purpose acquisition company, formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, recapitalization,
reorganization or similar business combination with one or more businesses or entities (a “Business Combination”);

 

WHEREAS, the Company is contemplating its initial
public offering of 8,500,000 units, each consisting one share of Class A common stock, $0.0001 par value, and one-half and one warrant
(the “IPO”);

 

WHEREAS, the Company has granted the underwriters
in the IPO an option (the “Over-allotment Option”) to purchase up to additional 1,275,000 units within 45 days of the
closing of the IPO;

 

WHEREAS, in connection with the IPO, the Seller
acquired 2,443,750 shares of Class B common stock of the Company, $0.0001 par value (“Class B Shares”), among
which, up to 318,750 shares are subject to forfeiture if the Over-allotment Option is not exercised (each, a “Founder Share”,
collectively, the “Founder Shares”) at the aggregate purchase price of $25,000, or approximately $0.0102 per share
(the “Purchase Price”);

 

WHEREAS, each of the Buyers is an officer or director/director
nominee or a personnel (and/or its designee) of the Company;

 

WHEREAS, on the terms and subject to the conditions
set forth in this Agreement, the Seller wishes to transfer to the Buyers and the Buyers wish to acquire from the Seller, the aggregated
amount of 389,500 Founder Shares at the Purchase Price immediately prior to or upon the effectiveness of the registration statement in
Form S-1 (File No. 333-256511, the “Registration Statement”) in connection with the IPO; and

 

WHEREAS, on the terms and subject to the conditions
set forth in this Agreement, the Seller wishes to transfer to the Buyers and the Buyers wish to acquire from the Seller, up to the aggregated
amount of 54,250 Founder Shares at the Purchase Price in conjunction with the exercise of the Over-allotment Option at the Purchase Price.

 

NOW, THEREFORE, in consideration of the premises,
representations, warranties and the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt,
sufficiency and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

Section 1.           Transfer
of Shares. Seller hereby agrees to transfer the aggregated amount of 389,500 Founder Shares to the Buyers immediately prior to or
upon the effectiveness of Registration Statement (the “Transfer”) , or additional up to 54,250 Founder Shares if over-allotment
is exercised in part or in full (collectively, the “Additional Transfer(s)”) as listed on the Schedule I attached
hereto; and the Buyers agree to pay the Seller an aggregate amount of $43,984.658 at the Transfer or additional up to $554.990 at the
Additional Transfer(s), in consideration of the transfer of the Shares.

 

Section 2.           Potential
Forfeiture of Shares.

 

(a) In the event that the Company determines
for any reason not to nominate, elect or appoint any Buyer as a member of the board of directors of the Company, or if any Buyer otherwise
does not become a member of the board of directors of the Company for any reason, on or prior to the closing of the Public Offering (as
defined below), or if the Public Offering is not consummated on or prior to December 31, 2021, such Buyer shall automatically forfeit
all of the Shares held by such Buyer, which Shares shall automatically be assigned and returned to the Seller, and the Seller shall promptly
return the applicable portion of the Purchase Price to such Buyer.

 

     

     

    

 

(b)            In
the event that, following the closing of the Public Offering and prior to the consummation of a Business Combination, any Buyer resigns
or otherwise ceases to serve as a member of the board of the directors for any reason, Seller (or its designee(s)) shall have the right,
but not the obligation, to purchase from the Buyer fifty percent (50%) of the Shares purchased by such Buyer hereunder, for a purchase
price equal to the per-share purchase price paid by such Buyer for such Shares hereunder. Such right shall be exercisable by Seller at
any time prior to the consummation of a Business Combination by providing written notice of such exercise to the applicable Buyer.

  

(c)            The
applicable Buyer shall take all actions as may be reasonably necessary to consummate any forfeiture or sale contemplated by this Section 2,
including entering into agreements and delivering certificates and instruments and consents as may be deemed by Seller to be necessary
or appropriate, and the applicable Buyer hereby grants to Seller and any representative designated by Seller without further action by
such Buyer a limited irrevocable power of attorney to effect any forfeiture or transfer contemplated hereby on behalf of such Buyer, which
power of attorney shall be deemed to be coupled with an interest.

 

Section 3.           No
Conflicts. Each party represents and warrants that neither the execution and delivery of this Agreement by such party, nor the consummation
or performance by such party of any of the transactions contemplated hereby, will with or without notice or lapse of time, constitute,
create or result in a breach or violation of, default under, loss of benefit or right under or acceleration of performance of any obligation
required under any agreement to which it is a party.

 

Section 4.           Investment
Representations. Each Buyer represents and warrants, with respect to himself or herself only, as set forth herein. Such Buyer hereby
acknowledges that an investment in the Shares involves certain significant risks. Such Buyer has no need for liquidity in its investment
in the Shares for the foreseeable future and is able to bear the risk of that investment for an indefinite period. Such Buyer acknowledges
and hereby agrees that the Shares will not be transferable under any circumstances unless registered by the Company in accordance with
federal and state securities laws or sold in compliance with an exemption under such laws and such transfer complies with all applicable
lock-up restrictions on such Buyer (as described in the Company’s draft registration statement on Form S-1, as may be amended
(the “Registration Statement”), under the Securities Act of 1933, as amended (the “Act”), relating
to a contemplated underwritten public offering by the Company (the “Public Offering”)). Such Buyer further understands
and agrees that Buyer will be required to execute and deliver (a) a letter agreement including, among other provisions, the foregoing
transfer restrictions, and (b) a stock escrow agreement with respect to such shares, in each case as described in the Registration
Statement, and that any certificates evidencing the Shares bear a legend referring to such transfer restrictions.

 

The Shares are being acquired solely for such Buyer’s
own account, for investment purposes only, and are not being purchased with a view to or for the resale, distribution, subdivision or
fractionalization thereof; and such Buyer has no present plans to enter into any contract, undertaking, agreement or arrangement for such
resale, distribution, subdivision or fractionalization. Such Buyer has been given the opportunity to (i) ask questions of and receive
answers from the Seller and the Company concerning the terms and conditions of the Shares, and the business and financial condition of
the Company and (ii) obtain any additional information that the Seller possesses or can acquire without unreasonable effort or expense
that is necessary to assist such Buyer in evaluating the advisability of the purchase of the Shares and an investment in the Company.
Such Buyer is not relying on any oral representation made by any person as to the Company or its operations, financial condition or prospects.
Such Buyer is an “accredited investor” as defined in Regulation D promulgated by the Securities and Exchange Commission under
the Act. In the event such Buyer does not join the Board of Directors of the Company upon the consummation of the Public Offering (whether
and either at the election of the Company or such Buyer for any reason), then the Buyer shall promptly return the Shares to the Company.

 

Section 5.           Miscellaneous.
This Agreement, together with the certificates, documents, instruments and writings that are delivered pursuant hereto, constitutes the
entire agreement and understanding of the parties hereto in respect of its subject matter. This Agreement may be executed in two or more
counterparts, each of which will be deemed an original but all of which together will constitute one and the same instrument. This Agreement
may not be amended, modified or waived as to any particular provision, except by a written instrument executed by all parties hereto.
Except as otherwise provided herein, no party hereto may assign either this Agreement or any of its rights, interests, or obligations
hereunder without the prior written approval of the other party.

 

     

     

    

 

IN WITNESS WHEREOF, the undersigned have executed
this Agreement to be effective as of the date first set forth above.

 

	 	FORTUNE RISE SPONSOR LLC
	 	 
	 	By:	          
	 	Name: Koon Keung Chan
	 	Title:   Managing Member
	 	 
	 	BUYERS:
	 	 
	 	 
	 	Lei Huang
	 	 
	 	 
	 	Xu Lei
	 	 
	 	 
	 	Yuanmei Ma
	 	 
	 	 
	 	David Xianglin Li
	 	 
	 	 
	 	Michael Davidov
	 	 
	 	 
	 	Norman C. Kristoff
	 	 
	 	 
	 	Christy Szeto

 

[Signature Page to Securities Transfer
Agreement]

 

     

     

    

 

Schedule I

 

	Name of Transferee	Pre-Shoe 	Post-Shoe(1)
	Number of Assigned 

Shares	Purchase Price	Additional 

Shares	Additional 

Purchase Price
	Lei Huang(2)	104,000	$1,063.939	18,000	$184.144
	Yuanmei Ma 	104,000	$1,063.939	18,000	$184.144
	Lei Xu 	120,000	$1,227.622	18,000	$184.144
	David Xianglin Li	20,000	$204.604	-	-
	Michael Davidov	20,000	$204.604	-	-
	Norman C. Kristoff	20,000	$204.604	-	-
	Christy Szeto	1,500	$15.346	250	$2.558
	 	Total: 389,500	Total: $3,984.658	Total:54,250	$554.990

 

(1) The number of additional shares to be acquired by Mr. Lei Huang,
Yuanmei Ma, Lei Xu, and Chrity Szeto shall be pro rata to the extent that the Over-allotment Option is not fully exercised.

 

(2) At Mr. Huang’s request, the Seller
has agreed to transfer 104,000 (or up to 122,000) shares directly to US Tiger Securities, Inc. as the designee of Lei Huang.

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