SCHEDULE 13G: TD Securities (USA) LLC Discloses 5.3% Stake in Embrace Change Acquisition Corp.
Beneficial Ownership Report
TD Securities (USA) LLC, a subsidiary of Toronto Dominion Bank, has reported a beneficial ownership of 5.3% in Embrace Change Acquisition Corp.'s ordinary shares as of December 31, 2024.
Summary
- TD Securities (USA) LLC, a Delaware-organized broker-dealer, has filed a Schedule 13G indicating beneficial ownership of 240,719 ordinary shares of Embrace Change Acquisition Corp.
- This ownership represents 5.3% of the total class of ordinary shares of Embrace Change Acquisition Corp.
- TD Securities (USA) LLC holds sole voting power and sole dispositive power over all 240,719 shares.
- The filing is jointly made by TD Securities (USA) LLC, Toronto Dominion Holdings USA Inc., TD Group US Holdings LLC, and Toronto Dominion Bank.
- Toronto Dominion Holdings USA Inc. is the sole owner of TD Securities (USA) LLC, TD Group US Holdings LLC is the sole owner of Toronto Dominion Holdings USA Inc., and Toronto Dominion Bank is the sole owner of TD Group US Holdings LLC.
- The parent entities (Toronto Dominion Holdings USA Inc., TD Group US Holdings LLC, and Toronto Dominion Bank) disclaim beneficial ownership of the reported shares except to the extent of their pecuniary interest through TD Securities (USA) LLC.
- The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of beneficial ownership, indicating a neutral sentiment. It does not contain forward-looking statements, financial performance, or strategic updates that would typically influence sentiment.
Future Outlook
NA
Industry Context
This filing is a standard disclosure of beneficial ownership by an institutional investor, TD Securities (USA) LLC, in a Special Purpose Acquisition Company (SPAC), Embrace Change Acquisition Corp. Such filings provide transparency regarding significant holdings by financial institutions, which is common practice in the investment landscape.
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional holding, confirming a 5.3% stake by TD Securities (USA) LLC.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | Date of event which requires the filing of this statement, indicating the beneficial ownership stake. |
| 02/11/2025 | Date the Schedule 13G filing was signed and submitted to the SEC. |
Keywords
Embrace Change Acquisition Corp., TD Securities (USA) LLC, Schedule 13G, Beneficial Ownership, Ordinary Shares, Toronto Dominion Bank, SEC Filing, Investment, Broker-Dealer
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