Termination Agreement for Agreement and Plan of Merger among Fortune Rise Acquisition Corporation, VCV Power Sigma, Inc., and VCV Power Gamma, Inc.
This agreement, dated July 19, 2022, is between Fortune Rise Acquisition Corporation, VCV Power Sigma, Inc., and VCV Power Gamma, Inc. It mutually terminates a previously signed Agreement and Plan of Merger dated April 26, 2022, along with all related transactions. The termination is effective immediately, and the terms follow the provisions set out in the original merger agreement. All parties agree to abandon the planned merger and release each other from further obligations under that agreement.
Exhibit 2.1
Termination Agreement
Date: July 19, 2022
Pursuant to Section 11.01(a) of a certain Agreement and Plan of Merger dated April 26, 2022, by and among Fortune Rise Acquisition Corporation, Sigma Merger Sub Inc., Gamma Merger Sub Inc., VCV Power Sigma, Inc., VCV Power Gamma, Inc., and Yuan (Jerry) Tang. (the “Merger Agreement” ), the Parent and the Companies mutually agree to terminate the Merger Agreement and the transaction contemplated thereby may be abandoned, effective immediately. Except as otherwise set forth in the Merger Agreement, this agreement shall have the effect of termination as set forth in Section 11.02 of the Merger Agreement.
Capitalized terms in this agreement shall have the same meaning as set forth in the Merger Agreement.
[Signature Page Follows]
| FORTUNE RISE ACQUISITION CORPORATION | ||
| By: | /s/ Yuanmei Ma | |
| Name: Yuanmei Ma | ||
| Title: Chief Financial Officer | ||
| VCV POWER SIGMA, INC. | ||
| By: | /s/ Yuan Tang | |
| Name: Yuan Tang | ||
| Title: Chief Executive Officer | ||
| VCV POWER GAMMA, INC. | ||
| By: | /s/ Yuan Tang | |
| Name: Yuan Tang | ||
| Title: Chief Executive Officer | ||
[Signature Page to Termination Agreement]
