Wuren Fubao Inc. - Aug 12, 2022 Form 4/A - Amendment Insider Report for Embrace Change Acquisition Corp. (EMCG)

Role: 10%+ Owner
Signature: By: /s/ Bin Li, Title: Director, /s/ Bin Li
Stock symbol: EMCG
Transactions as of: Aug 12, 2022
Transactions value $: $0
Form type: 4/A - Amendment
Date filed: 8/16/2022, 05:00 PM
Date Of Original Report: Aug 9, 2022
Previous filing: Aug 9, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EMCG	Ordinary shares, par value $0.0001	Other	$0	-20.5K	-1.1%	$0.00	1.85M	Aug 12, 2022	Direct	F1, F2
transaction	EMCG	Ordinary shares, par value $0.0001	Purchase		+374K	+20.22%		2.22M	Aug 12, 2022	Direct	F2, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	EMCG	Warrant	Purchase		-374K	-50%		374K	Aug 12, 2022	Ordinary shares, par value $0.0001	374K	$11.50	Direct	F2, F3, F4, F5, F6
transaction	EMCG	Right	Purchase		-374K	-88.89%		46.7K	Aug 12, 2022	Ordinary shares, par value $0.0001	46.7K		Direct	F2, F3, F4, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	As contemplated in connection with the Embrace Change Acquisition Corp. (the "Company")'s initial public offering (the "IPO"), 20,536 founder shares were returned by Wuren Fubao Inc. (the "Sponsor") to the Company for no consideration and cancelled because the representative's over-allotment option was partially exercised and the remaining portion of the option would not be exercised by the representative.
F2	The securities are owned directly by the Sponsor. Mr. Bin Li is the director of the Sponsor, and has voting and dispositive power over the shares held of record by the Sponsor. Mr. Bin Li disclaims any beneficial ownership of the securities held by the Sponsor, except to the extent of his pecuniary interest therein.
F3	Simultaneously with the consummation of the Company's IPO, the Sponsor acquired 373,750 units in a private placement (the "Private Units"). Each Private Unit consists of one ordinary share of the Company, par value $0.0001, one warrant to purchase one ordinary share at an exercise price of $11.50 per share (the "Warrants"), and one right entitling the holder to receive one-eighth (1/8) of one ordinary share upon consummation of the Company's initial business combination.
F4	The Private Units were purchased for $10.00 per unit.
F5	The Warrants will become exercisable at any time commencing 30 days after the completion of the Company's initial business combination.
F6	The Warrants will expire five years after the completion of the Company's initial business combination or earlier upon redemption or liquidation.
F7	Each right entitles the holder to receive one-eighth (1/8) of one ordinary share upon consummation of the Company's initial business combination.