Company: EMCRF
Filing Date: 2025-07-17
Form Type: PRE 14A
Source: 0001641172-25-020063
Chunk: 61

Company: Embrace Change Acquisition Corp.
Filing Date: 2025-07-17
Form: PRE 14A
Chunk 61
---
 combination involving the Company, with one or more businesses or entities (each a Target Business), which Business Combination: (a) 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 excluding the amount of any deferred underwriting discount and taxes payable on the interest earned on the trust account); and (b) must not be effectuated solely with another blank cheque company or a similar company with nominal operations.

| Annex C-11 |

Business Daymeans a day other than a day on which banking institutions or trust companies are authorised or obligated by law to close in New York City, a Saturday or a Sunday.

Clear Days, in relation to a period of notice, means that period excluding:

| (a) | the                                                     
 day when the notice is given or deemed to be given; and |

| (b) | the                                                         
 day for which it is given or on which it is to take effect. |

Clearing Housemeans a clearing house recognised by the laws of the jurisdiction in which the Shares (or depositary receipts therefor) are listed or quoted on a stock exchange or interdealer quotation system in such jurisdiction.

Companymeans the above-named company.

Compensation Committeemeans the compensation committee of the board of directors of the Company established pursuant to the Articles, or any successor committee.

Default Ratemeans 10% (ten per cent) per annum.

Designated Stock Exchangemeans any United States national securities exchange, including the Nasdaq Stock Market LLC, the NYSE American LLC or The New York Stock Exchange LLC or any OTC market on which the Shares are listed for trading.

Electronichas the meaning given to that term in the Electronic Transactions Act (Revised).

Electronic Recordhas the meaning given to that term in the Electronic Transactions Act (Revised).

Electronic Signaturehas the meaning given to that term in the Electronic Transactions Act (Revised).

Exchange Actmeans the United States Securities Exchange Act of 1934, as amended.

Foundersmeans all Members immediately prior to the consummation of the IPO.

Fully Paidand Paid Up:

| (a) | in                                                                                                                                  
 relation to a Share with par value, means that the par value for that Share and any premium payable in respect of the issue of that 
 Share, has been fully paid or credited as paid in money or money’s worth;