Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 319

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 319
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. The expense forecast by implication presumes Btab’s ability to provide the necessary resources to support growth in each of the four revenue streams. Any changes in consumer behavior and/or adverse material change in Btab’s financial condition could impact the forecasted revenue and expense profiles and thus the cash flow forecast for the four revenue streams and the company overall.

The Mentor Group conducted the analyses described above solely as part of its analysis of the fairness from a financial point of view of the total equity to be received by the holders of IWAC ordinary shares pursuant to the Business Combination Agreement and in connection with the delivery of its opinion, dated August 12, 2024, to the IWAC Board. These analyses do not purport to be appraisals or to reflect the prices at which shares of Pubco’s common stock might actually trade.

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The consideration to be received by the holders of shares of Btab common stock pursuant to the Business Combination Agreement was determined through arm’s-length negotiations between Btab and IWAC. The Mentor Group did not provide advice to the IWAC Board during these negotiations and did not recommend any specific consideration to Integrated Wellness or the IWAC Board or that any specific consideration constituted the only appropriate consideration for the Mergers.

The Mentor Group’s opinion and its presentation to the IWAC Board was one of many factors taken into consideration by the IWAC Board in deciding to approve, adopt and authorize the Business Combination Agreement and the transactions contemplated thereby. Consequently, the analyses as described above should not be viewed as determinative of the opinion of the IWAC Board with respect to the consideration pursuant to the Business Combination Agreement.

The IWAC Board retained The Mentor Group based upon The Mentor Group’s qualifications, experience and expertise. The Mentor Group is a regional financial services firm engaged in investment banking and business valuation and appraisal.

Under the terms of its engagement letter, The Mentor Group provided the Btab board of directors with financial advisory services and a financial opinion, described in this section and attached to this proxy statement as Annex H , in connection with the Mergers, and IWAC has agreed to pay The Mentor Group a fee of $90,000 for its services. Integrated Wellness has also agreed to reimburse The Mentor Group for its reasonable out-of-pocket expenses.

Material U.S. Federal Income Tax Consequences of the Domestication and the Business Combination to IWAC Shareholders

The following description sets forth the material U.S. federal income tax consequences of the Domestication to the U.S