Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 271

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 271
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 May 11, 2024, EGS circulated initial drafts of the Sponsor Letter Agreement and the Shareholder Support Agreement. An initial draft of the Lock-Up Agreement was circulated on May 13, 2024. The initial draft of the lock-Up Agreement circulated by EGS proposed a one-year post-Closing lock-up period for the former Btab Shareholders, subject to early release based on the IWAC post-Closing share price exceeding $12 for 20 trading days within a 30-trading day period or the occurrence of a merger, acquisition, share exchange or similar change control transaction after the Closing. The proposed one-year lock-up period was the same as the lockup period applicable to the Sponsor and the officers, directors of IWAC at the IPO (collectively, the “

#### Insiders
”).

On May 14, 2024, EGS delivered a revised draft of the Original Business Combination Agreement to NMRS. Between May 14 and May 30, 2024, NMRS and EGS exchanged several drafts of the Original Business Combination Agreement. EGS also delivered the initial drafts of the IWAC disclosure schedules on May 14, 2024. On May 15, 2024, the Special Committee held a meeting and determined that the earnout provisions, which the LOI left to be determined, should be removed from the Original Business Combination in order to simplify the terms of the Original Business Combination Agreement. On or around May 15, 2024, Btab agreed to remove the earnout provisions from the Original Business Combination Agreement.

In a revised draft of the Lock-Up Agreement circulated on May 20, 2024, BTAB countered by proposing a lock-up period of 180 days for the Btab Shareholders. The IWAC Special Committee agreed to the shorter lock-up period for the Btab Shareholders on the condition that the lock-up period applicable to the Insiders would also be reduced to 80 days. At the Closing, the Lock-Up Agreement will be entered into by all officers and directors of Pubco who own shares of Pubco post-Closing as well as all significant Btab Sharesholders, those owning more than 10% of the Btab Common Stock. Binson Lau and Btab Group Pty Ltd., who collectively own 29.68% of the Btab Common Stock are expected to be significant shareholders of Pubco and shall sign Lock-Up Agreements. If there are any other significant shareholders of Btab at the Closing, they will