Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 210

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 210
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IWAC Holding Company, Inc. is presented as a separate column in the pro forma statements of operations for the six months ended June 30, 2025 solely for illustrative purposes, to demonstrate that its results were not inadvertently excluded. IWAC Holding Company, Inc. had no revenue or expenses during the six months ended June 30, 2025, and only incurred minimal general and administrative expenses during the period from inception through December 31, 2024. As a result, its inclusion had no impact on the pro forma net loss or earnings per share for the six months ended June 30, 2025.

The pro forma adjustments reflecting the consummation of the Business Combination and the Material Events are based on certain currently available information and certain assumptions and methodologies that both IWAC and Btab believe are reasonable under the circumstances. The pro forma adjustments, which are described in the accompanying notes, may be revised as additional information becomes available and is evaluated. Therefore, it is likely that the actual adjustments will differ from the pro forma adjustments, and it is possible the differences may be material. Both IWAC and Btab believe that the assumptions and methodologies provide a reasonable basis for presenting all the significant effects of the Business Combination and the Material Events based on information available to management at this time and that the pro forma adjustments give appropriate effect to those assumptions and are properly applied in the unaudited pro forma condensed combined financial information.

The unaudited pro forma condensed combined financial information present two redemption scenarios, the No Redemption Scenario and the Maximum Redemption Scenario. The No Redemption Scenario assumes that no IWAC Public Shareholders exercise their right to have their IWAC Class A common shares subject to possible redemption converted into their pro rata share of the Trust Account. The Maximum Redemption Scenario assumes that all remaining IWAC Class A ordinary shares subject to possible redemption (1,185,481 shares) are redeemed for cash, resulting in an aggregate cash payment of approximately $15.1 million out of the Trust Account based on an assumed redemption price of $12.81 per share. The

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number of shares redeemed represents the maximum redemptions that can occur while assuming the Merger vote eliminates the $5,000,001 net tangible asset requirement specified in IWAC’s Existing Organizational Documents and the Business Combination Agreement. Should the NTA Proposal not be approved, IWAC would not be permitted to proceed with the Business Combination.

The Business Combination Agreement provides that the parties may,