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Embrace Change Acquisition Corp.EMCGF

Class A EMCGFCIK 0001869601

Cash in trust

$27.5M

$27,469,158

Trust per share

$9.47

Redemption value

IPO

Aug 2022

Combination deadline

Not disclosed

Filings on record

157

Latest Aug 12, 2026

Overview

Embrace Change Acquisition Corp. is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0001869601. It completed its initial public offering in Aug 2022. Class A shares trade under the ticker EMCGF. The vehicle is sponsored by Wuren Fubao through Wuren Fubao Inc. The mandate targets generalist. Deadline lapsed without a deal; trust returned to public shareholders.

We plan to focus on the management team of potential target companies because we believe that only a mature and adaptable management team is the most reliable competitive edge in dealing with complex competitive environments, and because all good products and services are built by a good team.
The mandate, as stated in the IPO prospectus
GeneralistGreater China

Reading the filings

Arithmetic on what Embrace Change Acquisition Corp. has disclosed, written the way a desk would read it. These are observations, not a rating. Nothing here scores the vehicle or implies a view on it.

  • Trust versus the $10 unit

    The trust holds $9.47 per public share, below the $10.00 unit price. A trust that has fallen under the offering price usually means charges against it or a restatement, so read the most recent quarterly report before relying on the figure.

  • Underwriting

    US Tiger Securities led the offering. It has been named on 14 SPAC IPOs, book-running 2 of them, and 7.7% of its resolved vehicles closed a deal. The syndicate has no control over whether a sponsor finds a target, but the quality of the book at pricing shapes who ends up holding the units.

SEC filing history

Free tier: filings older than 24 hours
  • NT 10-Q

    Late quarterly report notification

    Accession 0001493152-26-037340

    Aug 12, 2026

    22d ago

    Open filing
  • 8-K

    Entry into a material definitive agreement; Submission of matters to a vote of security holders; Other events

    Items 1.01, 5.03, 5.07, 8.01, 9.01 · Accession 0001493152-26-037260

    Aug 12, 2026

    23d ago

    Open filing
  • DEF 14A

    Definitive proxy statement

    Accession 0001493152-26-034110

    Jul 21, 2026

    1mo ago

    Open filing
  • PRE 14A

    PRE 14A

    Accession 0001493152-26-032548

    Jul 8, 2026

    1mo ago

    Open filing
  • NT 10-Q

    Late quarterly report notification

    Accession 0001493152-26-025322

    May 27, 2026

    3mo ago

    Open filing
  • NT 10-K

    Late annual report notification

    Accession 0001493152-26-014216

    Mar 31, 2026

    5mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001326389-26-000024

    Feb 17, 2026

    6mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0000927971-26-000011

    Feb 12, 2026

    6mo ago

    Open filing
  • 8-K

    Current report

    Item 5.02 · Accession 0001493152-25-029645

    Dec 30, 2025

    8mo ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001493152-25-027065

    Dec 10, 2025

    8mo ago

    Open filing
  • NT 10-Q

    Late quarterly report notification

    Accession 0001493152-25-023874

    Nov 17, 2025

    9mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0000803012-25-000033

    Nov 14, 2025

    9mo ago

    Open filing
  • SCHEDULE 13G

    Beneficial ownership report (passive)

    Accession 0000927971-25-000033

    Nov 13, 2025

    9mo ago

    Open filing
  • SCHEDULE 13G

    Beneficial ownership report (passive)

    Accession 0000927971-25-000032

    Nov 13, 2025

    9mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001104659-25-110748

    Nov 13, 2025

    9mo ago

    Open filing
  • 425

    Business-combination communication

    Accession 0001493152-25-018919

    Oct 22, 2025

    10mo ago

    Open filing
  • 8-K

    Entry into a material definitive agreement

    Items 1.01, 9.01 · Accession 0001493152-25-018918

    Oct 22, 2025

    10mo ago

    Open filing
  • 25-NSE

    Notification of delisting

    Accession 0001354457-25-000921

    Sep 18, 2025

    11mo ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001140361-25-034155

    Sep 5, 2025

    1y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001641172-25-024827

    Aug 19, 2025

    1y ago

    Open filing
  • 8-K

    Notice of delisting or failure to satisfy a listing rule

    Item 3.01 · Accession 0001641172-25-024606

    Aug 18, 2025

    1y ago

    Open filing
  • NT 10-Q

    Late quarterly report notification

    Accession 0001641172-25-023653

    Aug 14, 2025

    1y ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001104659-25-077142

    Aug 13, 2025

    1y ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001085146-25-004874

    Aug 12, 2025

    1y ago

    Open filing
  • 8-K

    Entry into a material definitive agreement; Submission of matters to a vote of security holders; Other events

    Items 1.01, 5.03, 5.07, 8.01, 9.01 · Accession 0001641172-25-022993

    Aug 11, 2025

    1y ago

    Open filing
  • DEF 14A

    Definitive proxy statement

    Accession 0001641172-25-021158

    Jul 28, 2025

    1y ago

    Open filing
  • PRE 14A

    PRE 14A

    Accession 0001641172-25-020063

    Jul 17, 2025

    1y ago

    Open filing
  • 10-Q

    Quarterly report

    Accession 0001829126-25-003812

    May 20, 2025

    1y ago

    Open filing
  • NT 10-Q

    Late quarterly report notification

    Accession 0001829126-25-003721

    May 15, 2025

    1y ago

    Open filing
  • SCHEDULE 13G/A

    Amended beneficial ownership report (passive)

    Accession 0001076809-25-000055

    May 15, 2025

    1y ago

    Open filing

Embrace Change Acquisition Corp.: questions answered

What is Embrace Change Acquisition Corp. (EMCGF)?

Embrace Change Acquisition Corp. is a special purpose acquisition company incorporated in Cayman Islands and registered with the SEC under CIK 0001869601. It completed its initial public offering in Aug 2022. Class A shares trade under the ticker EMCGF. The vehicle is sponsored by Wuren Fubao through Wuren Fubao Inc. The mandate targets generalist. Deadline lapsed without a deal; trust returned to public shareholders.

How much does Embrace Change Acquisition Corp. hold in trust?

Approximately $27,469,158, or about $9.47 per public share, as at the most recent filing on record. Trust balances move: shareholders redeem at extension votes and at the combination vote, and sponsors pay contributions in to extend. Treat the figure as a point-in-time disclosure, not a running balance.

When must Embrace Change Acquisition Corp. complete a merger?

No combination deadline appears in the filings we have indexed. The date is stated in the charter and repeated in each quarterly report; where our parser could not establish it with confidence we leave it blank rather than infer one.

What happens if Embrace Change Acquisition Corp. does not find a target in time?

The charter requires the vehicle to redeem 100% of the public shares and return the trust, pro rata, to public shareholders. That is the mechanism working as designed rather than a default. Founder shares and warrants are worthless in that outcome, which is why the sponsor's incentive is to get a deal done or to buy more time. Across the market, deadline lapsed without a deal; trust returned to public shareholders.

Can I redeem shares in Embrace Change Acquisition Corp., and at what price?

Public shareholders may elect to redeem in connection with a combination vote and at each extension vote, at the pro-rata trust value on the relevant record date, most recently disclosed at about $9.47 per share. Redemption is a right attached to the public shares only; warrants and rights carry no claim on the trust. The mechanics and the deadline for electing are set out in the proxy statement for the vote in question.

What tickers does Embrace Change Acquisition Corp. trade under?

Class A shares trade as EMCGF. Units trade first and separate into their component securities roughly 52 days after the IPO; only the Class A shares carry the redemption right against the trust.

Is the trust value the same as the share price for Embrace Change Acquisition Corp.?

No. Trust per share is a disclosed, contractual figure: what a redeeming holder receives. The market price is whatever the shares change hands at, which can sit above the trust when a deal is well received or below it when the market doubts one will close. We do not have a current quote for this vehicle, so no spread is shown.

Who sponsors Embrace Change Acquisition Corp., and what is their track record?

Wuren Fubao Inc is the sponsor entity, part of the Wuren Fubao franchise. This is the only vehicle we have attributed to that sponsor.

Which banks underwrote the Embrace Change Acquisition Corp. IPO?

Tiger Brokers (NZ), US Tiger Securities, EF Hutton, Joseph Gunnar &. US Tiger Securities and EF Hutton were credited as book-running managers on the cover. Syndicate membership and role are read from the prospectus cover and the underwriting section.

Is Embrace Change Acquisition Corp. a good investment?

That is not a question this site answers. Embrace Change Acquisition Corp. is covered here as reference data: what the company filed, when it filed it, and what the numbers in those filings say. The Edge, FOMO and Potential scores on this page are derived measures with a published formula, not ratings of investment merit: they describe the setup, and every component is shown so you can take them apart. We publish no price targets and no recommendations, and nothing here should be read as advice. The figures are a starting point for your own work, and each one carries the accession number of the filing it came from.

Where does this Embrace Change Acquisition Corp. data come from?

Filings Embrace Change Acquisition Corp. submitted to the SEC under CIK 0001869601: the registration statement and final prospectus for the structure, quarterly and annual reports for the trust, current reports and proxy statements for deals, votes and extensions. Trust economics are taken from the registrant's own XBRL tags rather than parsed from prose, which is why they are exact. Every filing in the history above is listed with its accession number, which identifies the document uniquely on EDGAR; Pro accounts open it directly from the row.

Compiled by the SPACListing research desk

Last reconciled Sep 4, 2026

Every figure on this page is read from documents the registrants filed with the U.S. Securities and Exchange Commission, principally the IPO prospectus (Form 424B4), quarterly and annual reports, current reports and proxy statements, the registrant's own XBRL tags for trust economics. Nothing is sourced from press coverage, from the companies themselves, or from a third-party aggregator. Where a filing does not disclose something, the field is left blank rather than estimated.

Read the full methodology · What is in the dataset · Report a correction

SPACListing is a reference-data service, not an investment adviser. Nothing here is a recommendation to buy or sell any security.

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The context around this vehicle: who else the sponsor has launched, which banks priced it, and where it sits in the wider market.