Embrace Change Acquisition Corp. issues $70K working capital note to CFO Zheng Yuan

Embrace Change Acquisition Corp.

Issued $70,000 unsecured promissory note to CFO Zheng Yuan for bill payment (no interest, repayable upon initial business combination).
Note convertible at holder's election into private units at $10/unit; up to $500k in aggregate notes convertible.
If converted fully, 7,000 private placement units would be issued (exempt under Section 4(a)(2)).
Note ranks behind trust account; no recourse against trust proceeds if business combination fails.

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