Embrace Change Acquisition Corp. ( (EMCG) ) has shared an announcement.
On January 27, 2025, Embrace Change Acquisition Corp. announced a merger agreement with Tianji Tire Global, aiming to transform Tianji into a publicly listed company on Nasdaq. The transaction, valued at $450 million, is expected to be completed by mid-2025, with Tianji’s management continuing to lead the combined entity. This merger is anticipated to provide growth capital for Tianji and align with its strategic expansion plans, while Tianji shareholders are set to retain a majority stake post-merger.
More about Embrace Change Acquisition Corp.
Tianji Tire Global (Cayman) Limited is a leading tire manufacturer, primarily operating through its subsidiaries in mainland China. The company specializes in the design, research and development, production, and sales of all-steel, tubeless radial tires for medium- and short-distance transportation, marketed under six renowned brands including SEMES and Tianxin.
YTD Price Performance: -0.17%
Average Trading Volume: 8,352
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $53.16M
Learn more about EMCG stock on TipRanks’ Stock Analysis page.