Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 158

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 158
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ory note to IWAC (the “

#### Second Extension Note
”) in connection with the shareholder approval to extend the Combination Period from June 13, 2023 for up to an additional six months to December 13, 2023. The Second Extension Note is non-interest bearing and payable on the earlier of the date the business combination is consummated or the liquidation of IWAC. The Second Extension Note has a principal amount up to $960,000, of which the Company has borrowed $640,000 as of December 31, 2023 to pay for four of six additional extensions from June 13, 2023 to October 13, 2023. Sriram Associates, LLC (“

#### Sriram
”) assumed the monthly extension deposits and a designee and affiliate of Sriram paid for the final two extension deposits to extend the time which the Company has to complete an initial Business Combination from October 13, 2023 to December 13, 2023, contributing $320,000 to the Trust Account.

In December 2023, IWAC issued a promissory note (the “

#### Third Extension Note
”) in the aggregate principal amount of up to $1,500,000 to Sriram, pursuant to which Sriram agreed to loan IWAC up to $1,500,000 in connection with the extension of the Combination Period from December 13, 2023 to December 13, 2024. The Third Extension Note bears no interest and is repayable in full upon the earlier of (a) the date of the consummation of IWAC’s initial business combination, and (b) the date of the liquidation of IWAC. As of December 31, 2023, the Company has not borrowed any amounts under the Third Extension Note. On June 18, 2024, Sriram assigned the Third Extension Note to the Current Sponsor, as assignee.

On January 14, 2025, IWAC amended the Third Extension Note to increase the principal amount to up to $4,000,000 to the Current Sponsor, pursuant to which the Current Sponsor may elect to convert up to a maximum amount of $1.5 million of the unpaid principal balance under such amended promissory note relating to working capital expenses into such number of ordinary shares (the “

#### Conversion Shares
”) equal to: (x) the portion of the principal amount of such amended promissory note being converted divided by (y) the