Embrace Change Acquisition in an amended S-1 filing said it now plans to offer 6.5 million units, down from the 7.5 million units registered in March. A unit consists of a share, a warrant and one right.
Embrace Change in May registered 8,625,000 rights to acquire 1/8 of an ordinary share and 1,078,125 ordinary shares underlying the rights.
An offering of 5 million units was initially registered in July 2021, later upped to 7.5 million units.
The SPAC has not identified any specific sectors it may target, but said it would not do a deal with any China-based company.
CEO and director Yoann Delwarde is the CEO and co-founder of Infinity Growth, a sales consultancy company. He is also an Expert In Residence for Chinaccelerator, an accelerator operated by the venture fund SOSV.
EF Hutton is sole book-running manager. Tiger Brokers has been added as co-manager.
The SPAC has applied to list on the Nasdaq under the symbol EMCGU. Read more.
