Company: EMCRF
Filing Date: 2025-01-27
Form Type: 425
Source: 0001829126-25-000388
Chunk: 5

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-01-27
Form: 425
Chunk 5
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 Purchaser                                                                                      
 having received a letter from Nasdaq approving the listing of Reincorporation Merger Surviving 
 Corporation;                                                                                   |

| i) | The                                                                                         
 CSRC shall have accepted the CSRC Filings and published the filing results in respect of    
 the CSRC Filings on its website), and such notice of acceptance or filing results published 
 by the CSRC shall remain valid and not rejected, revoked, withdrawn, amended or invalidated 
 prior to 8:00 AM on the Closing Date; and                                                   |

| j) | Either                                                                                     
 Parent or Purchaser shall not having received any written notice from Nasdaq that it has   
 failed, or would reasonably be expected to fail to meet the Nasdaq listing requirements as 
 of the Closing Date for any reason, where such notice has not been subsequently withdrawn  
 by Nasdaq or the underlying failure appropriately remedied or satisfied.                   |

Parent Parties’ Conditions to Closing

The obligations of the Parent Parties to consummate the transactions contemplated by the Merger Agreement, in addition to the conditions described above in the first paragraph of this section, are conditioned upon each of the following, among other things:

| a) | The                                                                                      
 Company complying with all of its obligations under the Merger Agreement in all material 
 respects;                                                                                |

| b) | The                                                                                          
 representations and warranties of the Company being true on and as of the date of the Merger 
 Agreement and the Closing Date of the transactions except as would not be expected to have   
 a material adverse effect;                                                                   |

| c) | There                                                  
 having been no material adverse effect to the Company; |

| d) | The                                                                                             
 Company having received a certificate signed by the Chief Executive Officer and Chief Financial 
 Officer of the Company to the effect set forth in (a) through (c);                              |

| e) | The                                                                                           
 Parent Parties shall have received (i) a copy of the Organizational Documents of the Company  
 as in effect as of the Closing Date, (ii) the copies of resolutions duly adopted by the board 
 of directors of the Company and by the Requisite Company Vote of the Company’s Shareholders   
 authorizing this Agreement, the Plan of Merger, and the transactions contemplated hereby      
 and thereby, and (iii) a recent certificate of good standing of the Company as of a date      
 no later than ten (10) days prior to the Closing Date regarding the Company from the Cayman   
 Registrar;                                                                                    |

| f) | The                                                                                        
 Parent Parties having received