Company: EMCRF
Filing Date: 2025-07-17
Form Type: PRE 14A
Source: 0001641172-25-020063
Chunk: 41

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-17
Form: PRE 14A
Chunk 41
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 meet the 36-month deadline on August 9, 2025. In connection with the Extension Amendment Proposal, we are seeking to extend our Termination Date up to August 12, 2026, or 48 months after our IPO. If the Extension Amendment Proposal is adopted and we extend our Extended Date beyond 36 months of the effectiveness of our IPO registration statement, Nasdaq will determine that we are not in compliance with the 36-month Rule and our securities will be suspended from trading on Nasdaq and ultimately and delisted from Nasdaq. For the avoidance of doubt, any Extended Date beyond August 9, 2025 would not comply with Nasdaq Listing Rule IM-5101-2 and result in our delisting.

If our securities are delisted from trading on Nasdaq, we expect such securities to be quoted on an over-the-counter market. In this over-the-counter market, we could face significant material adverse consequences, including:

| ● | a                                                                                                                                      
 limited availability of market quotations for our securities;                                                                          |
| ● | a                                                                                                                                      
 determination that our common stock is a “penny stock” which will require brokers trading in our common stock to adhere                
 to more stringent rules and possibly result in a reduced level of trading activity in the secondary trading market for our securities; |
| ● | a                                                                                                                                      
 limited amount of news and analyst coverage; and                                                                                       |
| ● | a                                                                                                                                      
 decreased ability to issue additional securities or obtain additional financing in the future.                                         |

Additionally, because our securities will no longer be listed on Nasdaq, our securities will no longer be considered “covered securities” for the purpose of The National Securities Markets Improvement Act of 1996, which is a federal statute that prevents or preempts the states from regulating the sale of certain securities, which are referred to as “covered securities.” Therefore, our securities will be subject to regulation in each state in which we offer our securities.

| 22 |

<div align='center'>PROPOSAL NO. 1 — THE EXTENSION AMENDMENT PROPOSAL</div>

Overview

Embrace Change is proposing to amend and restate, by special resolution, its Articles of Association to extend the date by which Embrace Change must consummate a business combination to the Extended Date so as to give Embrace Change additional time to complete a Business Combination by deleting the Articles of Association in its entirety and adopting the fourth amended and restated memorandum and articles of association of Embrace Change. The text of the proposed special resolution is set