Company: EMCRF
Filing Date: 2025-07-28
Form Type: DEF 14A
Source: 0001641172-25-021158
Chunk: 43

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-28
Form: DEF 14A
Chunk 43
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='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 forth as the first resolution in Annex A to this proxy statement. The complete text of the proposed fourth amended and restated memorandum and articles of association of Embrace Change is attached to this proxy statement as Annex C.

The Board believes that it is in the best interests of Embrace Change shareholders that the Extension be obtained so that Embrace Change will have an additional amount of time to consummate a Business Combination. Without the Extension, Embrace Change will not be able to complete a Business Combination on or before the Termination Date, and would be forced to liquidate. Embrace Change intends to hold a Business Combination Extraordinary General Meeting at a future date to approve a Business Combination.

Articles of Association

Embrace Change believes that given Embrace Change’s expenditure of time, effort and money on a Business Combination, circumstances warrant ensuring that Embrace Change is in the best position possible to consummate a Business Combination and that it is in the best interests of Embrace Change shareholders that Embrace Change obtain the Extension. Embrace Change believes a Business Combination will provide significant benefits to its shareholders.

As contemplated by the Articles of Association, the holders of the Public Shares may elect to redeem all or a portion of their Public Shares in exchange for their pro rata portion of the funds held in the Trust Account if the Extension is implemented. You may elect to redeem your Public Shares in connection with the Extraordinary General Meeting.

On August 7, 2025, the redemption price per Public Share was approximately $12.08 (which is expected to be the same approximate amount two (2) business days prior to the Extraordinary General Meeting), based on the aggregate amount on deposit in the Trust Account of approximately $26.9 million as of July 25, 2025 (including interest not previously released to Embrace Change to pay its taxes), divided by the total number of then issued and outstanding Public Shares. The closing price of the Public Shares on Nasdaq on July 25,