Company: WELNF
Filing Date: 2025-12-04
Form Type: DEFA14A
Source: 0001104659-25-118484
Chunk: 11

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-12-04
Form: DEFA14A
Chunk 11
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 Agreement are hereinafter referred to as the
“Sponsor Handover.”

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In addition to the payment
of the purchase price, Sriram agreed to assume various obligations of the Company, including (i) the costs and expenses associated with
the monthly extension approved by the Company’s shareholders until December 12, 2023 including monthly extension payments of $160,000,
(ii) the costs and expenses for the Company to take all necessary actions to file a proxy statement and hold a shareholders meeting prior
to December 13, 2023 in order to extend the term of the Company to the date which is 36 months following the consummation of its IPO,
(iii) satisfaction of all of its public company reporting requirements, (iv) payment of D&O insurance premium to extend the Company’s
existing D&O insurance policy and maintain D&O coverage through the closing of the Business Combination and obtain appropriate
tail coverage, (v) payment of all outstanding legal fees owed by the Company at or before the closing of a Business Combination, (vi)
payment of all of the Company’s existing liabilities and (vii) performance of all other obligations of a sponsor related to the
Company. As of September 30, 2025, a designee and affiliate of Sriram has paid $3,676,223 for the Company’s outstanding obligations
and deposits into the Trust Account, which are recorded as a liability on the consolidated balance sheets.

On February 1, 2024, the Sponsor
Handover was consummated (the “Closing”). Suntone Investment Pty Ltd (“Suntone”), a designee and affiliate of
Sriram, acquired the securities in the Transfer and has subsequently served as the Sponsor of the Company. In connection with the Closing,
the parties agreed to the changes to the Company’s management team and board of directors.

The Trust Account

Following the closing of the
IPO on December 13, 2021, an amount of $117,300,000 ($10.20 per Unit) from the net proceeds of the sale of the Units in the IPO and
the sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”). The funds in the Trust Account
were invested only in U.S. government treasury bills with a maturity of 185 days or less or in money market funds investing solely
in U.S. Treasuries and meeting certain conditions under Rule 2