SCHEDULE: Bank of Montreal Reports 0% Stake in Embrace Change Acquisition Corp.

Bank of Montreal and its affiliates have filed an amended Schedule 13G, reporting zero beneficial ownership in Embrace Change Acquisition Corp.'s Ordinary Shares as of December 31, 2025.

Summary

• Bank of Montreal, BANK OF MONTREAL HOLDING INC., and BMO NESBITT BURNS INC. filed an Amendment No. 1 to Schedule 13G.
• The filing reports that as of December 31, 2025, the reporting persons beneficially own 0% of the Ordinary Shares of Embrace Change Acquisition Corp.
• This indicates a complete divestment or reduction below the 5% reporting threshold by the Bank of Montreal group.
• The Ordinary Shares have a par value of $0.0001 per share and CUSIP G3034H109.
• The reporting entities are all based in Canada (Federal Level).

Sentiment

Score: 4

Explanation: StockSavvy.ai views this filing as slightly negative for Embrace Change Acquisition Corp. due to a major financial institution reporting 0% beneficial ownership, implying a complete divestment or significant reduction in their stake.

Negatives

• The reporting of 0% beneficial ownership by Bank of Montreal and its affiliates suggests a complete divestment or significant reduction in their stake in Embrace Change Acquisition Corp., which could be perceived negatively by the market.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding Embrace Change Acquisition Corp.'s future outlook.

Management Comments

• Kathryn Cenac, Managing Director Regulatory Solutions Group, signed on behalf of Bank of Montreal, BANK OF MONTREAL HOLDING INC., and BMO NESBITT BURNS INC., certifying that the securities were acquired and held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Industry Context

StockSavvy.ai notes that a Schedule 13G amendment reporting a major financial institution's reduction to 0% beneficial ownership typically signifies a strategic portfolio adjustment or a complete exit from the investment. This action by Bank of Montreal could influence market perception of Embrace Change Acquisition Corp., especially if the prior stake was substantial, as it might signal a lack of long-term conviction or a shift in investment priorities by a significant institutional investor.

Stakeholder Impact

• Shareholders: May interpret the divestment by Bank of Montreal as a negative signal, potentially impacting investor confidence and the stock price.
• Investment Community: Could lead to re-evaluation of Embrace Change Acquisition Corp. by other institutional investors.

Key Dates

Keywords

Embrace Change Acquisition Corp., Bank of Montreal, Schedule 13G, Beneficial Ownership, Divestment, Ordinary Shares, SEC Filing, Investment Holdings