---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-220018"
form_type: "8-K"
ticker: "EMCGF"
cik: "0001869601"
company_name: "Embrace Change Acquisition Corp."
filed_at: "2022-08-12T23:59:59+00:00"
generated_at: "2026-06-24T00:30:08.594490+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Embrace Change Acquisition Corp. closes $73.9M SPAC IPO with partial over-allotment

## Summary
- Closed IPO of 7,392,855 units at $10/unit; gross proceeds $73.9M; includes 892,855 units from partial over-allotment exercise.
- Net proceeds of $72.0M from IPO plus $3.74M from private placement deposited in trust account, totaling $75.8M.
- Private placement of 373,750 units to sponsor Wuren Fubao Inc. for $3.74M; warrants non-redeemable for holders.
- Appointed three independent directors (Xiao, de Richemont, Zhou) to board committees effective May 16, 2022.
- Filed amended and restated memorandum & articles of association; 20,536 founder shares forfeited due to over-allotment.

## SEC filing metadata
- accession: 0001193125-22-220018
- form_type: 8-K
- ticker: EMCGF
- cik: 0001869601
- company_name: Embrace Change Acquisition Corp.
- filed_at: 2022-08-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1869601/000119312522220018/0001193125-22-220018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1869601/000119312522220018/d360346d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-220018
- JSON: https://secwatch.observer/filing/0001193125-22-220018.json
- Plain text: https://secwatch.observer/filing/0001193125-22-220018.txt

## Key facts
- Executive change
  Gregory de Richemont was appointed as Director at Embrace Change Acquisition Corp..
  - Action: appointed
  - Role: Director
  source text: Effective May 16, 2022, Jiangping (Gary) Xiao, Gregory de Richemont and Hang Zhou were appointed to the board of directors of the Company (the “ Board ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1869601/000119312522220018/0001193125-22-220018-index.htm
- Executive change
  Jiangping (Gary) Xiao was appointed as Director at Embrace Change Acquisition Corp..
  - Action: appointed
  - Role: Director
  source text: Effective May 16, 2022, Jiangping (Gary) Xiao, Gregory de Richemont and Hang Zhou were appointed to the board of directors of the Company (the “ Board ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1869601/000119312522220018/0001193125-22-220018-index.htm
- Executive change
  Hang Zhou was appointed as Director at Embrace Change Acquisition Corp..
  - Action: appointed
  - Role: Director
  source text: Effective May 16, 2022, Jiangping (Gary) Xiao, Gregory de Richemont and Hang Zhou were appointed to the board of directors of the Company (the “ Board ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1869601/000119312522220018/0001193125-22-220018-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.