Company: EMCRF
Filing Date: 2025-07-28
Form Type: DEF 14A
Source: 0001641172-25-021158
Chunk: 37

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-28
Form: DEF 14A
Chunk 37
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 in the Private Units and in the Founder Shares.                     |
| ● | The                                                                                                                                          
 Sponsor has agreed not to redeem any Ordinary Shares, held by it in connection with a shareholder vote to approve a Business Combination.    |
| ● | The                                                                                                                                          
 Sponsor and Embrace Change’s officers and directors have agreed to waive their rights to liquidating distributions from the                  
 Trust Account with respect to any Founder Shares held by them if Embrace Change fails to complete a Business Combination by the Termination  
 Date (or such later date that may be approved by Embrace Change shareholders, such as the Extended Date).                                    |
| ● | The                                                                                                                                          
 continued indemnification of current directors and officers of Embrace Change and the continuation of directors’ and officers’               
 liability insurance after a Business Combination.                                                                                            |

Additionally, if the Extension Amendment Proposal and the Trust Agreement Amendment Proposal are approved and Embrace Change consummates a Business Combination, the officers and directors of Embrace Change may have additional interests as described in the proxy statement/prospectus for such transaction.

Certain Risks

There are no assurances that the Extension will enable us to complete the Business Combination.

Approving the Extension involves a number of risks. Even if the Extension is approved, we can provide no assurances that the initial business combination will be consummated prior to the extended date. Our ability to consummate any business combination is dependent on a variety of factors, many of which are beyond our control. If the Extension is approved, Embrace Change expects to seek shareholder approval of the Business Combination. We are required to offer shareholders the opportunity to redeem shares in connection with the Extension Amendment Proposal and the Trust Agreement Amendment Proposal, and we will be required to offer shareholders redemption rights again in connection with any shareholder vote to approve the initial business combination. Even if the extension or the Business Combination are approved by our shareholders, it is possible that redemptions will leave us with insufficient cash to consummate the Business Combination on commercially acceptable terms, or at all. The fact that we will have separate redemption periods in connection with the extension and the Business Combination vote could exacerbate these risks. Other than in connection with a redemption offer or liquidation, our shareholders may be unable to recover their investment except through sales of our shares on the open market. The price of our shares may be volatile, and there can be no assurance that shareholders will be able to dispose of our shares at favorable prices, or at all.

| 19 |

If we were deemed to be an investment company for purposes of the Investment Company Act