Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 251

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 251
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iii) the costs and expenses for IWAC to take all actions necessary to file a proxy statement and hold a shareholders meeting prior to December 13, 2023 in order to extend IWAC’s term until December 13, 2024 structured in such manner as requested by Sriram. Sriram also agreed to (i) cause IWAC to satisfy all of its public company reporting requirements; (ii) to pay the D&O insurance premiums to extend IWAC’s existing D&O insurance policy (estimated at approximately $20,000); and (iii) to pay all outstanding legal fees owed by IWAC at or before a business combination (estimated at approximately $1.17 million).

The following chronicle of events leading up to the Sponsor Handover is not intended to be a complete list of all opportunities initially evaluated or explored or discussions held by IWAC, but sets forth the significant discussions and steps that IWAC took prior to the Sponsor Handover.

Description of negotiation process with candidates prior to the Sponsor Handover

Following the completion of the IPO, representatives of IWAC engaged in extensive discussions with several financial advisors, consulting firms and companies, mostly based in the United States, with respect to potential acquisition opportunities. Such financial advisors, consulting firms and companies did not include the Mentor Group and did not have affiliation with Btab. IWAC’s prior management team initially focused IWAC’s search on targets operating in the health (15 potential targets), nutrition (8 potential targets), wellness (3 potential targets) and beauty (9 potential targets) sectors, headquartered in the United States or in Europe. Prior to the Sponsor Handover, IWAC’s prior management team were offered potential acquisition opportunities by 13 entities and two individuals and researched additional targets through various channels. The individuals comprising IWAC’s prior management team who reached out to various potential targets included Steven Schapera, Antonio Varano, Hadrien Forterre, Gael Forterre, Robert Quandr and James MacPherson. Below is a summary of IWAC’s negotiation process with the six potential acquisition targets with which IWAC had significant discussions prior to the Sponsor Handover, as well as a discussion of the proposed transaction with Refreshing. The Company’s prior management team and board members progressed to more substantive discussions with these potential targets on the belief that these companies would be the most promising business combination partners of the various targets which IWAC had been introduced to, based on. profitability, privately or family owned and/or controlled, an EV/EBITDA range of 7X to