Empower, Ltd. Announces Effectiveness of Registration Statement and Extraordinary Meeting Date for Proposed Business Combination with Holley

Empower, Ltd. (NYSE: “EMPW” “EMPW-UN” and “EMPW-WT”) (“Empower”), a publicly-traded special purpose acquisition company, today announced that the U.S. Securities and Exchange Commission (“SEC”) has declared effective its Registration Statement on Form S-4 (as amended, the “Registration Statement”), which includes a definitive proxy statement/prospectus in connection with Empower’s extraordinary general meeting of shareholders (the “Extraordinary Meeting”). At the Extraordinary Meeting shareholders of Empower will consider the previously announced proposed business combination with Holley Intermediate Holdings, Inc. (“Holley”).

Empower Shareholder Vote

The Extraordinary Meeting will take place at 10:00 a.m., Eastern Time, on July 14, 2021 virtually at the following address: https://www.cstproxy.com/empower/sm2021. Empower’s shareholders of record at the close of business on June 7, 2021 are entitled to vote the shares of common stock of Empower owned by them at the Extraordinary Meeting and at any adjournment or postponement thereof. At the Extraordinary Meeting, shareholders will be asked to approve and adopt the business combination, and such other proposals as disclosed in the definitive proxy statement/prospectus included in the Registration Statement.

Empower encourages its shareholders entitled to vote at the Extraordinary Meeting to vote their shares via proxy in advance of the Extraordinary Meeting by following the instructions on the proxy card.

If the business combination is approved by Empower shareholders, Empower anticipates closing the business combination shortly after the Extraordinary Meeting, subject to the satisfaction or waiver (as applicable) of all other closing conditions.

As announced previously, upon the effectiveness of the business combination, Empower will change its name to “Holley” and its common stock and warrants are expected to be traded on the New York Stock Exchange under the new symbol HLLY. At the closing of the business combination, each Empower unit will separate into its components consisting of one share of Empower common stock and one-third of one warrant and, as a result, will no longer trade as a separate security.

About Holley

Holley is a leading designer, marketer, and manufacturer of high-performance products for car and truck enthusiasts. Holley offers the largest portfolio of iconic brands that deliver innovation and inspiration to a large and diverse community of millions of avid automotive enthusiasts who are passionate about the performance and personalization of their classic and modern cars. Holley has disrupted the performance category by putting the enthusiast consumer first, developing innovative new products, and building a robust M&A process that has added meaningful scale and diversity to its platform. For more information on Holley, visit www.holley.com.