Company: EMCRF
Filing Date: 2025-07-17
Form Type: PRE 14A
Source: 0001641172-25-020063
Chunk: 116

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-17
Form: PRE 14A
Chunk 116
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 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 36 months from the closing of the IPO or 48 months from the      
 closing of the IPO pursuant to Article 37.8 (subject in the latter case to valid one-month extensions having been made in each case); 
 or                                                                                                                                    |

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

| 37.12 | The                                                                                                                                
 Company must complete one or more Business Combinations, which must be with one or more operating businesses or assets with a fair 
 market value equal to at least 80% of the net assets held in the trust account (net of amounts disbursed to management for working 
 capital purposes, if permitted, and