Company: EMCRF
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024827
Chunk: 30

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 will not receive any of such
funds with respect to their rights, nor will they receive any distribution from the Company’s assets held outside of the Trust
Account with respect to such rights. Accordingly, the rights may expire worthless.

NOTE
10. SUBSEQUENT EVENTS 

Subsequent
to June 30, 2025, the Company received an aggregated amount of $500,000 from Tianji and its subsidiaries. These amounts are unsecured,
non-interest bearing and due on demand. Up to the date the unaudited interim consolidated financial statements were issued, the Company
received $1,675,000 in total, from Tianji and its subsidiaries.

On
August 11, 2025, the Company held the Third Extraordinary General Meeting of shareholders, at which the Company’s shareholders approved the
following proposals: (a) as a special resolution, giving the Company the right to extend the Combination Period from August 12, 2025 to August 12, 2026, pursuant to the Trust Agreement, by deleting the third amended and restated memorandum and
articles of association in its entirety and substitute it with the fourth amended and restated memorandum and articles of
association of the Company; (b) as an ordinary resolution, an amendment to the Trust Agreement, to extend the Combination Period
from August 12, 2025 to August 12, 2026.

In
connection with the shareholders’ vote at the Third Extraordinary General Meeting of shareholders held by the Company on August
11, 2025, 2,097,743 ordinary shares were tendered for redemption, leaving 2,422,281 ordinary shares still outstanding after the August
2025 redemption.

17

Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

References
to the “Company,” “Embrace Change,” “our,” “us” or “we” refer to Embrace
change Acquisition Corp. The following discussion and analysis of the Company’s financial condition and results of operations should
be read in conjunction with the unaudited interim financial statements and the notes thereto contained elsewhere in this report. Certain
information contained in the discussion and analysis set forth below includes forward- looking statements that involve risks and uncertainties.

Cautionary
Note Regarding Forward-Looking Statements

This
Quarterly Report on Form 10-Q includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section