# EDGAR Filing Document

**Accession Number:** 0001869601
**File Stem:** 0001493152-25-018918
**Filing Date:** 2025-10
**Character Count:** 22754
**Document Hash:** 84bb481b3bcd6dc790172d6737f1bfe3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-018918.hdr.sgml**: 20251022

**ACCESSION NUMBER**: 0001493152-25-018918

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251016

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251022

**DATE AS OF CHANGE**: 20251022

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Embrace Change Acquisition Corp.
- **CENTRAL INDEX KEY:** 0001869601
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41397
- **FILM NUMBER:** 251410481

**BUSINESS ADDRESS:**
- **STREET 1:** 5186 CARROLL CANYON RD
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92121
- **BUSINESS PHONE:** (858) 688-4965

**MAIL ADDRESS:**
- **STREET 1:** 5186 CARROLL CANYON RD
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92121

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 8-K**

**Current Report**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**October 16, 2025**

**Date of Report (Date of earliest event reported)**

**EMBRACE CHANGE ACQUISITION CORP.**

**(Exact Name of Registrant as Specified in its Charter)**

---

| | | |
|:---|:---|:---|
| **Cayman Islands** | **001-41397** | **N/A** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

---

| | |
|:---|:---|
| **5186 Carroll Canyon Rd**<br> **San Diego, CA 92121** | **92121** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

**Registrant's telephone number, including area code: (858) 688-4965**

**N/A**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒ Written
 communications pursuant to Rule 425 under the Securities Act

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbols** | **Name of each exchange on which registered** |
| **Units, each consisting of one Ordinary Share of par value $0.0001, one Warrant and one Right** | **EMCGU** | **OTC** |
| **Ordinary shares, par value $0.0001 per share, included as part of the Units** | **EMCG** | **OTC** |
| **Warrants included as part of the Units** | **EMCGW** | **OTC** |
| **Rights included as part of the Units** | **EMCGR** | **OTC** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01 Entry into a Material definitive Agreement.**

***<u>Amendment No. 1 to Merger Agreement</u>***

As previously disclosed, on January 26, 2025, Embrace Change Acquisition Corp., a Cayman Islands exempted company ("<u>EMCG</u>" or "<u>Parent</u>"), entered into a merger agreement (as it may be amended, supplemented, or otherwise modified from time to time, the "<u>Merger Agreement</u>"), by and between EMCG, EMC Merger Sub 1, a Cayman Islands exempted company and wholly owned subsidiary of Parent ("<u>Purchaser</u>"), EMC Merger Sub 2, a Cayman Islands exempted company and wholly owned subsidiary of Purchaser ("<u>Merger Sub</u>"), and Tianji Tire Global (Cayman) Limited, a Cayman Islands exempted company ("<u>Tianji</u>" or the "<u>Company</u>"), pursuant to which (a) EMCG will be merged with and into Purchaser (the "<u>Reincorporation Merger</u>"), with Purchaser surviving the Reincorporation Merger, and (b) Merger Sub will be merged with and into the Company (the "<u>Acquisition Merger</u>"), with the Company surviving the Acquisition Merger as a direct wholly owned subsidiary of Purchaser (collectively, the "<u>Business Combination</u>"). Following the Business Combination, Purchaser will be a publicly traded company.

On October 16, 2025, EMCG entered into Amendment No. 1 to the Merger Agreement (the "<u>Amendment</u>") with the other parties thereto. The Amendment (1) amended the definition of Merger Sub to reflect that it is a wholly owned subsidiary of Parent, (2) deleted a closing condition that as of the Closing, the Purchaser shall have at least $5,000,001 in net tangible assets, (3) extended the Outside Date (as defined in the Amendment) from August 12, 2025 to August 12, 2026, and (4) added Tianji's obligation to pay the balance of the extension payment and pay the expenses necessary to and appropriate to effect the transactions contemplated under the Merger Agreement.

The summary above is qualified in its entirety by reference to the complete text of the Amendment, a copy of which is attached hereto as Exhibit 2.1 and is incorporated herein. Unless otherwise defined herein, the capitalized terms used above are defined in the Merger Agreement.

**IMPORTANT NOTICES**

**Forward-Looking Statements**

This Current Report on Form 8-K contains certain statements that are not historical facts but are "forward-looking statements" for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the pending transactions described above, and the parties' perspectives and expectations, are forward-looking statements. Such statements include, but are not limited to, statements regarding the proposed transaction, including the anticipated initial enterprise value and post-closing equity value, the benefits of the proposed transaction, integration plans, expected synergies and revenue opportunities, anticipated future financial and operating performance and results, including estimates for growth, the expected management and governance of the combined company, and the expected timing of the transactions. The words "expect," "believe," "estimate," "intend," "plan" and similar expressions indicate forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated.

These forward-looking statements are subject to number of risks and uncertainties, that could cause actual results to differ materially from expected results. Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the pending transaction, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived, such as regulatory approvals not being obtained, on a timely basis or otherwise, or that a governmental entity prohibited, delayed or refused to grant approval for the consummation of the transaction or required certain conditions, limitations or restrictions in connection with such approvals; (ii) risks related to the ability of EMCG and the Company to successfully integrate the businesses; (iii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iv) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of the EMCG or the Company; (v) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (vi) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of EMCG's securities; (vii) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of the Company to retain dealers and retain and hire key personnel and maintain relationships with their dealers and product users and on their operating results and businesses generally; (viii) the risk that the combined company may be unable to achieve cost-cutting synergies or it may take longer than expected to achieve those synergies; and (ix) risks associated with the financing of the proposed transaction. The risks and uncertainties above are not exhaustive, and there may be additional risks that neither EMCG nor the Company presently know or that EMCG and the Company currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. A further list and description of risks and uncertainties can be found in the Prospectus dated August 9, 2022 relating to EMCG's initial public offering and in the Registration Statement and proxy statement that will be filed with the SEC by EMCG and/or its subsidiary in connection with the proposed transactions, and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. In addition, forward looking statements reflect EMCG's and the Company's expectations, plans or forecasts of future events and views as of the date of this report. EMCG and the Company anticipate that subsequent events and developments will cause EMCG's and the Company's assessments to change. Forward-looking statements relate only to the date they were made, and EMCG, the Company and their subsidiaries undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation. These forward-looking statements should not be relied upon as representing EMCG's and the Company's assessments as of any date subsequent to the date of this report. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements.

**Additional Information and Where to Find It**

In connection with the transaction described herein, EMCG and/or its subsidiary will file relevant materials with the Securities and Exchange Commission (the "<u>SEC</u>"), including the Registration Statement on Form S-4 or Form F-4 and a proxy statement (the "<u>Registration Statement</u>"). The proxy statement and a proxy card will be mailed to shareholders as of a record date to be established for voting at the stockholders' meeting of EMCG shareholders relating to the proposed transactions. Stockholders will also be able to obtain a copy of the Registration Statement and proxy statement without charge from EMCG. The Registration Statement and proxy statement, once available, may also be obtained without charge at the SEC's website at www.sec.gov or by writing to EMCG at 5186 Carroll Canyon Rd, San Diego, CA, 92121. This Current Report on Form 8-K may be deemed to be offering or solicitation material in respect of the proposed business combination, which will be submitted to the shareholders of EMCG for their consideration. INVESTORS AND SECURITY HOLDERS OF EMCG ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTIONS THAT EMCG WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE, IN EACH CASE, BEFORE MAKING ANY INVESTMENT OR VOTING DECISION WITH RESPECT TO THE PROPOSED BUSINESS COMBINATION, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT EMCG, THE COMPANY AND THE TRANSACTIONS DESCRIBED HEREIN.

**Participants in Solicitation**

EMCG, the Company and certain shareholders of EMCG, and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of EMCG ordinary shares stock in respect of the proposed transaction. Information about EMCG's directors and executive officers and their ownership of EMCG ordinary shares is set forth in the Prospectus dated August 9, 2022 and filed with the SEC. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement pertaining to the proposed transaction when it becomes available. These documents can be obtained free of charge from the sources indicated above.

**No Offer or Solicitation**

This Current Report on Form 8-K is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the transactions described above and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of EMCG or the Company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. This Current Report on Form 8-K does not constitute either advice or a recommendation regarding any securities. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

**Item 9.01 Financial Statements and Exhibits.**

**(d)** **Exhibits:** 

---

| | |
|:---|:---|
| **Exhibit** | **Description** |
| 2.1 | [Amendment No. 1 to Merger Agreement dated October 16, 2025 by and among EMCG, Purchaser, Merger Sub and the Company](ex2-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| Dated: October 22, 2025 | Dated: October 22, 2025 |
| EMBRACE CHANGE ACQUISITION CORP. | EMBRACE CHANGE ACQUISITION CORP. |
| By: | */s/ Jingyu Wang* |
| Name: | Jingyu Wang |
| Title: | Chief Executive Officer |

---

## Exhibit 2.1

**Exhibit 2.1**

**First Amendment to Merger Agreement**

This FIRST Amendment to Merger Agreement (this "<u>Amendment</u>"), dated as of October 16, 2025 (the "<u>Signing Date</u>"), is entered into by and among **Embrace Change Acquisition Corp.**, a Cayman Islands exempted company ("<u>Parent</u>"), **EMC Merger Sub 1**, a Cayman Islands exempted company and wholly owned subsidiary of Parent ("<u>Purchaser</u>"), **EMC Merger Sub 2**, a Cayman Islands exempted company and wholly owned subsidiary of Parent ("<u>Merger Sub</u>"), **Tianji Tire Global (Cayman) Limited**, a Cayman Islands exempted company (the "<u>Company</u>").

**<u>W I T N E S E T H:</u>**

**WHEREAS**, Parent, Purchaser, Merger Sub and the Company (collectively, the "<u>Parties</u>") entered into that certain Merger Agreement dated as of January 26, 2025 (the "<u>Merger Agreement</u>");

**WHEREAS**, Parent and Purchaser completed a share transfer so that Merger Sub's ownership was changed from Purchaser to Parent; and

**WHEREAS**, the Parties hereto wish to make certain amendments to the Merger Agreement as set forth in this Amendment.

**NOW, THEREFORE**, in consideration of the premises, the mutual covenants set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Definitions</u>. Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Merger Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Amendment</u>. Pursuant to the provisions of Section 12.2 of the Merger Agreement, the Merger Agreement is hereby amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Preamble. The phrase "EMC Merger Sub 2, a Cayman Islands exempted company and wholly owned subsidiary of Purchaser ("<u>Merger Sub</u>")" in the preamble is hereby deleted in its entirety and replaced with the following:

"**EMC Merger Sub 2**, a Cayman Islands exempted company and wholly owned subsidiary of Parent ("<u>Merger Sub</u>")"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Condition to the Obligations of the Parties. Section 10.1(h) of the Merger Agreement is hereby deleted in its entirety and replaced with the following:

"(h) Reserved."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Termination. Section 11.1(d)(i) of the Merger Agreement is hereby deleted in its entirety and replaced with the following:

"(i) on or after August 12, 2026 (the "Outside Date"), if the Acquisition Merger shall not have been consummated prior to the Outside Date; provided, however, that the right to terminate this Agreement under this Section 11.1(d)(i) shall not be available to a Party if the failure of the Acquisition Merger to have been consummated on or before the Outside Date was due to such Party's breach of or failure to perform any of its representations, warranties, covenants or agreements set forth in this Agreement, provided further, that if the Acquisition Merger shall not have been consummated prior to the Outside Date, without prejudice to the right of either the Company or any Parent Party to terminate this Agreement under this Section 12.1(d)(i), the parties will enter into good faith discussions, with a view to continuing to pursue the transactions contemplated by this Agreement on terms and conditions mutually agreed by the parties; or"

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Covenants of the Company. Section 8.3 is hereby added with the following:

"8.3 Payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) By October 31, 2025, the Company shall pay $275,000 and delayed deposit interest to Parent as the extension payment for the Trust Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Through the Closing Date, the Company shall, to the extent it deems reasonable, pay the documented expenses necessary and appropriate to effect the transactions contemplated under the Merger Agreement for Parent, within five business days after Parent emails the invoices.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If any payments due under (a) or (b) are not timely made, the Company shall also pay to Parent, upon demand, a late charge equal to five percent (5.0%) of each payment past due for ten (10) or more calendar days."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>No Other Amendments; Effect of Amendment</u>. Except for the amendments expressly set forth in this Amendment, the Merger Agreement shall remain unchanged and in full force and effect. This Amendment shall form a part of the Merger Agreement for all purposes, and the Parties shall be bound hereby. From and after the execution of this Amendment by the parties hereto, any reference to the Merger Agreement shall be deemed a reference to the Merger Agreement as amended hereby. This Amendment shall be deemed to be in full force and effect from and after the execution of this Amendment by the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Governing Law; Waiver of Jury Trial; Submission to Jurisdiction</u>. Section 12.8, Section 12.9, and Section 12.10 of the Merger Agreement are incorporated by reference herein to apply with full force to any disputes arising under this Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Further Assurance</u>. Each party hereto shall execute and deliver such documents and take such action, as may reasonably be considered within the scope of such party's obligations hereunder, necessary to effectuate the transactions and matters contemplated by this Amendment.

*[The remainder of this page intentionally left blank; signature pages to follow]*

 

IN WITNESS WHEREOF, the Parties have caused this Amendment to be duly executed as of the day and year first above written.

---

| | |
|:---|:---|
| Parent: | Parent: |
| EMBRACE CHANGE ACQUISITION CORP. | EMBRACE CHANGE ACQUISITION CORP. |
| By: | /s/ Jingyu Wang |
| Name: | Jingyu Wang |
| Title: | CEO |
| Purchaser: | Purchaser: |
| EMC Merger Sub 1 | EMC Merger Sub 1 |
| By: | /s/ Jingyu Wang |
| Name: | Jingyu Wang |
| Title: | Director |
| Merger Sub: | Merger Sub: |
| EMC Merger Sub 2 | EMC Merger Sub 2 |
| By: | /s/ Jingyu Wang |
| Name: | Jingyu Wang |
| Title: | Director |

---

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the day and year first above written.

---

| | |
|:---|:---|
| Company: | Company: |
| TIANJI TIRE GLOBAL (CAYMAN) LIMITED | TIANJI TIRE GLOBAL (CAYMAN) LIMITED |
| By: | /s/ Lingzhen Fan |
| Name: | Lingzhen Fan |
| Title: | Director |

---