SPAC Embrace Change Acquisition extends deadline to Aug 12, borrows $300k via promissory note

Embrace Change Acquisition Corp.

Extended business combination deadline from May 12 to Aug 12, 2024; deposited $400k trust ($200k each on Aug 5 and 6).
Issued $300k unsecured promissory note at 9.127% annual interest; principal due 2 months from Aug 5, extendable by 2 months.
Note proceeds used for extension fee and/or working capital; payee name redacted as confidential.
Note ranks senior to other loans and prepayment is not permitted.

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