Letter Of Intent

Fortune Rise Acquisition Corp

SPAC Ticker
External link: SEC Filings



Mr. Lei Huang, Chief Executive Officer & Director . Mr. Huang has been our Chief Executive Officer and a director shortly since our inception. Furthermore, Mr. Huang serve as a Director for UP Fintech Holding since November 2020 and MDLand International Corporation since December 2020. Mr. Huang has been the Chief Executive Officer of US Tiger Securities, Inc. since March 2019. Prior to joining Tiger Securities, Mr. Huang was the Chief Executive Officer at Haitong Securities U.S.A. from June 2018 to March 2019 and Chief Compliance Officer and Operation Manager of CICC U.S. Securities from March 2010 to June 2018. During a period from September 2004 to March 2010, Mr. Huang served as a compliance officer at Morgan Stanley, Lehman Brothers, and Barclays, respectively. From July 2001 to September 2004, Mr. Huang served as a regulatory supervisor at the National Association of Securities Dealers. Mr. Huang holds a Master’s degree in Global Financial Analysis from Bentley University. Mr. Huang is also Co-Chief Executive Officer of TradeUP Global, a special purpose acquisition company listed on Nasdaq.

We believe that Mr. Huang qualifies as our director because of his leadership experience and investment experience in capital markets.

Dr. Lei Xu, Chairwoman & President . Dr. Xu has been our Chairwoman and President shortly since our inception. Dr. Xu has served as the Executive President of Boya Foundation, a non-profit educational charity organization since July 2019. She has served as the Chairwoman of Peking University Alumni Association of Southern California (PUAASC) since January 2020. From January 2016 to December 2019, she served as the President and Director of PUAASC. Since December 2018, Dr. Xu has served as a limited partner at Seraph Group, an established global investment firm investing in early-stage companies in strategic high-growth sectors such as transportation, aerospace, digital media, sensors, social connectivity, advanced medical devices, health science, data analytics, smart mobility, and ecommerce efficiency. Dr. Xu has been a professor in the Department of Geography & the Environment at California State University – Fullerton since August 2006. She received her Ph.D. and M.A. degrees in Geography from McMaster University, and Bachelor’s degree from Peking University with a major in Urban and Environmental Sciences and a minor in Economics.

We believe that Dr. Xu qualified as our director because of her experience in investing in early-stage companies and her leadership skills.

Ms. Yuanmei Ma, Chief Financial Officer . Yuanmei Ma has been our Chief Financial Officer shortly since our inception. Ms. Ma has served as the Chief Financial Officer of Mayrock Automotive Inc., a zero-emission commercial mobility company in California since September 2020. Ms. Ma was the director of investor relation at Highpower International Inc., from August 2016 to November 2019; when it was listed on Nasdaq (Formerly Nasdaq: HPJ). From July 2010 to June 2013, Ms. Ma was the Chief Financial Officer for Baosheng Steel Inc. She was Chief Financial Officer of Yihe Pharmaceutical Company Ltd. between August 2009 to June 2010; and Chief Financial Officer of Zhongpin Inc., (Formerly Nasdaq: HOGS), from September 2005 to October 2008. Ms. Ma holds an Executive MBA degree from both INSEAD Business School and Tsinghua University and a Bachelor’s degree in Accounting from Arkansas State University.

Dr. David Xianglin Li, Independent Director . Dr. Li will join us upon the effectiveness of this prospectus as an independent director. Dr. Li is a professor of finance and faculty co-director of the master of finance program at Shanghai Advanced Institute of Finance. Moreover, he has been an associate director of the Chinese Academy of Financial Research (CAFR) at Shanghai Jiaotong University since January 2018, where he leads CAFR’s risk management center and fintech research centers. Prior to his current position, Mr. Li served as the head of enterprise risk methodology and analytics at Prudential Financial from March 2016 to August 2017, the head of modeling at AIG Investments from February 2012 to February 2016, the chief risk officer at China International Capital Corporation Ltd. from May 2008 to January 2012, the head of credit derivative research and analytics at Barclays Capital from June 2004 to April 2008 and the head of credit derivative research and analytics at Citigroup from October 2001 to May 2004. Mr. Li has also served in senior positions at AXA Financial, the RiskMetrics Group(RMG), and Canadian Imperial Bank of Commerce(CIBC), among others. Dr. Li was one of the pioneers in credit derivatives; his seminal work of using copula functions for credit portfolio modeling are widely cited by academic research, broadly used by practitioners for credit portfolio trading, risk management, and rating. Mr. Li has a Ph.D. degree in Statistics, Master’s degree in actuarial science from the University of Waterloo, an MBA from Laval University, a Master’s degree in Economics from Nankai University and a Bachelor’s degree in Mathematics from Yangzhou University. Mr. Li is also a director of TradeUP Global, a special purpose acquisition company listed on Nasdaq.

We believe Dr. Li qualifies as our director because of his years of experience in finance programing, modeling and risk management.

Mr. Michael Davidov, Independent Director . Mr. Davidov will join us upon the effectiveness of this prospectus as an independent director. Mr. Davidov has more than 20 years of experience in the fields of investments and corporate finance. In 2012, he co-founded and served as the chief investment officer at Middle Kingdom Value Fund and Global Value Partners, special situations fund on China related and global value investments. From 2018 to 2019, Mr. Davidov served as the audit committee chairman for Nutriband (OTC:NTRB). From April 2006 to July 2009, Mr. Davidov was part of the management team of Middle Kingdom Alliance Corp., a U.S. listed special purpose acquisition company that completed its merger with Pypo China Holdings (a Beijing-based cell phone distribution company) and later changed its name to Funtalk China Holdings Limited (Formerly Nasdaq: FTLK). From January 1999 to December 2009, Mr. Davidov was the director of corporate finance and portfolio manager at High Capital Funding, LLC/Generation Capital, a private equity/special situations fund, where he structured and made private investment in public entity (PIPE) investments as a principal. Mr. Davidov received his Bachelor’s degree in Mathematics from Southern Illinois University and an MBA degree in finance from J. Mack Robinson School of Business at Georgia State University. Mr. Davidov is also a director of TradeUP Global, a special purpose acquisition company listed on Nasdaq.

We believe Mr. Davidov qualifies as our director because of his 20 years of experience in investments and corporate finance.

Mr. Norman C. Kristoff, Independent Director . Mr. Kristoff will join us upon the effectiveness of this prospectus as an independent director. Mr. Kristoff has been managing director at Platform Whiz LLC, a financial advisory firm focusing on China and Pacific regions since 2014. Between May 1997 to June 2014, Mr. Kristoff was a managing member at Delphinian Quest Advisors, a boutique investment banking firm specializing in financing of companies located in Asia. From March 2002 to May 2003, Mr. Kristoff served on Aduromed Corporation’s, a medical waste remediation company, board of directors. From June 1991 to May 1992, Mr. Kristoff served as a managing director of Spencer Trask Securities, Inc., an investment banking firm. Furthermore, during his tenure from March 1978 to April 1990, Mr. Kristoff served as Senior Vice President and Department Head of North American Merger and Acquisition Operations at Yamaichi International (America), Inc. He was also the principal at KMS Management, an international consulting firm specializing in international emerging markets transactions, from September 1992 to March 1996. Mr. Kristoff holds a Bachelor’s degree in history from Washington & Lee University and is a member of the Asia Society and Japan Society.

We believe Mr. Kristoff qualifies as our director because of his experience in directorship, management as well as investment banking and M&A.