Company: EMCRF
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024827
Chunk: 9

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 August 12, 2024
to August 12, 2025, by depositing into the Trust Agreement $75,000
for each one-month extension. In connection with the shareholders’ vote at the Second Extraordinary General Meeting held by
the Company on August 12, 2024, 2,903,151
ordinary shares were tendered for redemption, leaving 2,224,131
ordinary shares subject to possible redemption still outstanding after the August 2024 redemption.

    6

On
September 10, 2024, the Company deposited $75,000 into the Trust Account, extending the Termination Date to September 12, 2024. On May
8, 2025 and June 3, 2025, the Company deposited two tranches of $75,000, for an aggregated of $150,000, into the Trust Account.

On
August 11, 2025, the Company held an extraordinary general meeting of shareholders (the “Third Extraordinary General Meeting”),
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.

On
August 11, 2025, the Company deposited $400,000 into the Trust Account. Up to the date the unaudited interim consolidated financial statements
were issued, the Company is obligated to deposit another $275,000, to the Trust Account. As of the date of these unaudited interim consolidated
financial statements are issued, $275,000 of the required extension payments, has not been deposited into the Trust Account.

If
the Company is unable to complete a Business Combination within the Combination