Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 270

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 270
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 and the post-business combination company would be a Delaware corporation. EGS advised IWAC to have the transaction reviewed and negotiated by an independent committee of the board, as would typically be done in a domestic transaction under similar circumstances.

On April 11, 2024 EGS attended a meeting of the full IWAC Board, called to discuss the implications of pursing an initial business combination with Btab, given that Binson Lau the Chairman of the IWAC Board was also the Chief Executive Officer of Btab and a significant Btab shareholder. At the IWAC board meeting, the EGS team informed the IWAC Board of their recommendation that IWAC establish a special Committee to review the terms of the previously executed Btab LOI to confirm they are acceptable and to lead the negotiation of the terms of the definitive agreement going forward . Prior to the board meeting EGS provided the IWAC Board with draft resolutions for the appointment of a special committee. At the conclusion of the Board meeting on April 11, 2024, the IWAC Board resolved to move forward with the establishment of a special committee of the IWAC Board comprised of disinterested directors.

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Between April 11, 2024 and April 30, 2024 the IWAC Board members finalized the composition of the special committee to make sure that it did not include any members with an interest in Btab. Ultimately, the IWAC Board decided to appoint only those directors who did not have any interest in Btab to form the special committee.

On April 30, 2024, the IWAC Board established a special committee (the “

#### Special Committee
#### ”

) of disinterested directors, consisting of Suren Ajjarapu, a director and the Chief Executive Officer of IWAC, Matthew Malriat, a director and the Chief Financial Officer of IWAC and Donald Fell and Michael Peterson, both of whom are independent directors of the IWAC. Members of the Special Committee were chosen by the IWAC Board due to their independence from Btab; directors who are shareholders of Btab were not included as members of the Special Committee.

On May 3, 2024, EGS delivered a revised draft of the Original Business Combination Agreement to the Special Committee. Between May 3 and May 29, EGS shared several versions of the Business Combination Agreement and the ancillary transaction documents with the Special Committee and incorporated comments from the management team and the Special Committee regarding such drafts.

On