Company: EMCRF
Filing Date: 2025-07-17
Form Type: PRE 14A
Source: 0001641172-25-020063
Chunk: 35

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-17
Form: PRE 14A
Chunk 35
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 for forwarding this proxy statement and the related proxy materials to Embrace Change shareholders. Directors, officers and employees of Embrace Change who solicit proxies will not be paid any additional compensation for soliciting.

Interests of the Initial Shareholders

In considering the recommendation of our Board to vote in favor of the Extension Amendment Proposal and the Trust Agreement Amendment Proposal, shareholders should be aware that, aside from their interests as shareholders, the initial shareholders have interests in a Business Combination that are different from, or in addition to, those of other shareholders generally. These interests include, among other things:

| ● | If                                                                                                                                      
 the Extension Amendment Proposal and the Trust Agreement Amendment Proposal are not approved, we will: (1) cease all operations except  
 for the purpose of winding up; (2) as promptly as reasonably possible but not more than five business days thereafter, conduct the      
 Mandatory Redemption, which Mandatory Redemption will completely extinguish Public Shareholders’ rights as shareholders (including      
 the right to receive further liquidating distributions, if any); and (3) as promptly as reasonably possible following such Mandatory    
 Redemption, subject to the approval of our remaining shareholders and our board, liquidate and dissolve, subject in the case of clauses 
 (2) and (3), to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable    
 law. The initial shareholders waived their rights to participate in any liquidating distribution. There will be no distribution from    
 the Trust Account with respect to Embrace Change’s warrants and rights, which will expire worthless in the event Embrace Change         
 dissolves and liquidates the Trust Account.                                                                                             |
| ● | If                                                                                                                                      
 the Extension Amendment Proposal and the Trust Amendment Proposal are approved, Embrace Change will no longer be needed to deposit      
 any money into the Trust Account to extend the Combination Period for twelve months.                                                    |
| ● | If                                                                                                                                      
 Embrace Change is not able to complete a business combination on time, it will cease all operations except for the purpose of winding   
 up, redeeming 100% of the issued and outstanding Embrace Change Public Shares for cash and, subject to the approval of its remaining    
 shareholders and its board of directors, dissolving and liquidating. In such event, the 1,848,214 founder shares (the “Founder          
 Shares”) held by the Sponsor, which were acquired for an aggregate purchase price of $25,000 prior to the IPO, would be                 
 worthless because the holders are not entitled to participate in any redemption or