# Fortune Rise Acquisition Corp. nominates Progressive Water Treatment as merger target

Fortune Rise Acquisition Corporation and OriginClear's subsidiary Water On Demand amended their letter of intent to nominate Progressive Water Treatment Inc. as the new target for acquisition by FRLA. The deal is non-binding and subject to further negotiations.

- Type: Acquisition
- Announced: 2023-09-28
- Where: Texas, United States
- Value: $72.0M
- Status: announced
- Products: water treatment systems
- Sectors: [Water Treatment Equipment](https://endata.com/sectors/water-treatment-equipment.md)

## Companies

- [OriginClear](https://endata.com/companies/8303.md) (investor)
- [OriginClear](https://endata.com/companies/8303.md) (partner)
- [Progressive Water Treatment](https://endata.com/companies/8304.md) (target)
- [Fortune Rise Acquisition Corporation](https://endata.com/companies/72910.md) (acquirer)
- [Water On Demand Inc.](https://endata.com/companies/72911.md) (partner)
- [Water On Demand Inc.](https://endata.com/companies/72911.md) (target)

## Sources

- [originclear.com](https://www.originclear.com/company-news/in-amended-letter-of-intent-originclears-water-on-demand-and-fortune-rise-acquisition-corporation-nominate-a-new-target-for-merger/), 2023-09-28: "Progressive Water Treatment is a target with both a lengthy operating history and significantly increased revenue since 2021."
- [sec.gov](https://www.sec.gov/Archives/edgar/data/1849294/000168316823007373/fortunerise_ex9901.htm), 2023-10-24: "FRLA and Water On Demand Inc., a subsidiary of OriginClear, Inc., have entered into a definitive business combination agreement"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.