Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 48

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 48
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 |        9.70 | ​ | ​ | ​ | ​                  | $ |       11.89 | ​ | ​ |

(1) IWAC’s net tangible book value was calculated by total assets minus total liabilities minus ordinary shares subject to redemption. (2) IWAC’s net tangible book value was adjusted for (i) trust account balance as a result of different level of redemption; and (ii) transaction expenses that have not recorded on IWAC’s financial statements as of June 30, 2025, which will have impacts on the calculation of net tangible book value upon closing.

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TABLE OF CONTENTS

For each redemption scenarios, potential dilution results in the amount of non-redeeming shareholders’ interest per share being at least the IPO price per share of $10.00:

| ​ | IWAC outstanding shares as of June 30, 2025                                                                                      | ​ | ​ | ​ | ​ |   7,968,761 | ​ | ​ | ​ | ​ | ​ |   6,783,280 | ​ | ​ |
| ​ | Shares issued to Btab shareholders in Business Combination                                                                       | ​ | ​ | ​ | ​ |  24,900,000 | ​ | ​ | ​ | ​ | ​ |  24,900,000 | ​ | ​ |
| ​ | Pubco Class V Shares issued to Btab Shareholders                                                                                 | ​ | ​ | ​ | ​ |     100,000 | ​ | ​ | ​ | ​ | ​ |     100,000 | ​ | ​ |
| ​ | Number of shares after giving effect to the de-SPAC transaction and related financing                                            | ​ | ​ | ​ | ​ |  32,968,761 | ​ | ​ | ​ | ​ | ​ |  31,783,280 | ​ | ​ |
| ​ | The company valuation at or above which the non-redeeming shareholders’interest per share being at least the IPO price per share | ​ | ​ | ​ | $ | 329,687,609 | ​ | ​ | ​ | ​ | $ | 317,832,799 | ​ | ​ |

* This table does not include potential sources of dilution that are not probable or not automatically convertible upon the consummation of the Business Combination. The above discussion and table are based on 4,060,481 IWAC Shares outstanding on June 30, 2025, and excludes, as of such