Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 272

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 272
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 each also sign a Lock-Up Agreement.

On May 29, 2024, the Special Committee held a meeting by video conference to discuss the status of the proposed business combination with Btab. EGS was present at the meeting. EGS provided an update on the status of the transaction documents and the status of due diligence. On May 28, 2024, in advance of the IWAC Board meeting that was held on May 29, 2024, EGS sent the Special Committee, a high-level board summary of the transaction documents and substantially final versions of the Business Combination Agreement, Sponsor Letter Agreement, Shareholder Support Agreement, Lock-Up Agreement and the disclosure schedules for both parties. Additionally, a copy of the Mentor presentation and the draft fairness opinion was provided to the Special Committee in advance of the meeting. The Special Committee discussed and considered the deal parameters which had been included in the LOI, including the earn out, the number of shares and related dilution, and the details of the fairness opinion valuation. After considering the most recent revisions to the agreements, the status of the due diligence and taking into account the additional factors described below under the caption “— Recommendation of the Board and Reasons for the Business Combination ,” the Special Committee unanimously approved the Original Business Combination Agreement,

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and ancillary agreements (the Sponsor Letter Agreement, the Shareholder Support Agreement and the Lock-Up Agreement) and the Business Combination, subject to receipt of a satisfactory fairness opinion from Mentor. The Special Committee agreed to provide its recommendation to the full IWAC Board that the IWAC Board should also approve the contemplated transaction, if a final fairness opinion is received from Mentor.

On May 29, 2024, immediately after the Special Committee meeting, the full IWAC Board held a meeting by video conference to discuss and approve the proposed business combination with Btab. Representatives from Mentor and EGS were present on the call. Representatives from Mentor presented the summary of their fairness opinion. A copy of the Mentor presentation and the draft fairness opinion was provided to the IWAC Board in advance of the meeting. Thereafter, Mentor rendered its oral opinion to the IWAC Board (which was confirmed in writing by delivery of Mentor’s written opinion dated May 30, 2024), that, the Business Combination was fair to the shareholders of IWAC from a financial point of view. The full text of the written opinion of Mentor, which describes, among other things, the assumptions, qualifications, limitations and