Company: EMCRF
Filing Date: 2025-07-28
Form Type: DEF 14A
Source: 0001641172-25-021158
Chunk: 118

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-28
Form: DEF 14A
Chunk 118
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 provided with the opportunity to redeem their Public Shares upon the approval of any such amendment (an Amendment Redemption) at a per-Share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account not previously released to the Company to pay income taxes, if any, divided by the number of Public Shares then in issue.

| Annex C-55 |

| 37.10 | Except                                                                                                                             
 for the withdrawal of interest to pay income taxes, if any, none of the funds held in the Trust Account shall be released from the 
 Trust Account:                                                                                                                     |

| (a) | to                                                            
 the Company, until completion of any Business Combination; or |

| (b) | to                                                        
 the Members holding Public Shares, until the earliest of: |

| (i) | a                                                                            
 repurchase of Shares by means of a Tender Offer pursuant to Article 37.2(b); |

| (ii) | an                                       
 IPO Redemption pursuant to Article 37.6; |

| (iii) | a                                                              
 distribution of the Trust Account pursuant to Article 37.8; or |

| (iv) | an                                             
 Amendment Redemption pursuant to Article 37.9. |

In no other circumstance shall a holder of Public Shares have any right or interest of any kind in the Trust Account.

| 37.11 | After                                                                                                                                  
 the issue of Public Shares (including pursuant to the Over-Allotment Option), and prior to the consummation of a Business Combination, 
 the directors shall not issue additional Shares or any other securities that would entitle the holders thereof to:                     |

| (a) | receive                          
 funds from the Trust Account; or |

| (b) | vote                               
 as a class with the Public Shares: |

| (i) | on                                                                                                                               
 a Business Combination or on any other proposal presented to Members prior to or in connection with the completion of a Business 
 Combination; or                                                                                                                  |

| (ii) | to                                         
 approve an amendment to these Articles to: |

| (A) | extend                                                                                   
 the time the Company has to consummate a Business Combination beyond  48 months from the 
 closing of the IPO pursuant to Article 37.8;                                             
 or                                                                                       |

| (B) | amend                                       
 the foregoing provisions of these Articles. |

| 37.12 | The                                                                                                                                
 Company must complete one or more Business Combinations, which must