Embrace Change Acquisition, a blank check company targeting the technology, internet, and consumer sectors, raised $65 million by offering 6.5 million units at $10. Each unit consists of one share of common stock, one right to receive one-eighth of a share upon completion of an initial business combination, and one warrant, exercisable at $11.50.
The company is led by CEO and Director Yoann Delwarde, the co-founder and CEO of sales consultancy Infinity Growth and an Expert In Residence for Chinaccelerator. The company plans to target the technology, internet, and consumer sectors, focusing on enterprise services, artificial intelligence, culture and media, biotechnology, new consumer brands, and blockchain, among other areas. It will not target businesses in China.
Embrace Change Acquisition plans to list on the Nasdaq under the symbol EMCGU. EF Hutton acted as sole bookrunner on the deal.
