Company: EMCRF
Filing Date: 2025-01-27
Form Type: 8-K
Source: 0001829126-25-000387
Chunk: 0

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-01-27
Form: 8-K
Item: Item 1.01
Chunk 0
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Item
1.01 Entry into a Material definitive Agreement.

The
Merger Agreement

On
January 26, 2025, Embrace Change Acquisition Corp., a Cayman Islands exempted company (“ EMCG Parent Merger Agreement Purchaser Merger
Sub Tianji Company Reincorporation Merger Acquisition
Merger Business Combination

Capitalized
terms used in this Current Report on Form 8-K but not otherwise defined herein have the meanings given to them in the Merger Agreement.

Consideration

At
the effective time of the Acquisition Merger, each Tianji Class A ordinary share will be converted into the right to receive one Reincorporation
Merger Surviving Corporation Class A ordinary share and each Tianji Class B ordinary share will be converted into the right to receive
one Reincorporation Merger Surviving Corporation Class B ordinary share, as outlined in the Merger Agreement.

Purchaser
will issue an aggregate of 45,000,000 of its ordinary shares (“ Purchaser Ordinary Shares Merger
Consideration Shares Tianji Shareholders

Issuance
of Share Consideration

In
connection with the Acquisition Merger, fractional shares of the Purchaser Ordinary Shares that would otherwise be issued to the Tianji
Shareholders will be rounded down to the nearest whole share.

Representations
and Warranties

In
the Merger Agreement, the Company makes certain representations and warranties (with certain exceptions set forth in the disclosure schedule
to the Merger Agreement) relating to, among other things: (a) corporate existence and power of the Company and its subsidiaries (together,
the “ Company Parties

In
the Merger Agreement, EMCG, on its behalf and also on behalf of Purchaser and Merger Sub (together, the “ Parent
Parties

Conduct
Prior to Closing; Covenants Pending Closing

The
Company and the Parent Parties have agreed to operate their respective business in the ordinary course, consistent with past practices,
prior to the closing of the transactions (with certain exceptions) and not to take certain specified actions without the prior written
consent of the other party.

The
Merger Agreement also contains customary closing covenants.

Conditions
to Closing

General
Conditions to Closing

Consummation
of the Merger Agreement and the transaction therein is conditioned on, among other things, (i) no provisions of any applicable law and
no order prohibiting or preventing the consummation of the closing; (ii) there