Embrace Change Acquisition, a blank check company targeting the technology, internet, and consumer sectors in China, raised the proposed deal size for its upcoming IPO on Wednesday.
The Beijing, China-based company now plans to raise $75 million by offering 7.5 million units at a price of $10. The company had previously filed to offer 5 million units at the same price. Each unit consists of one share of common stock and one warrant exercisable at $11.50 per share.
Embrace Change Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol EMCGU. EF Hutton is the sole bookrunner on the deal.
