Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 265

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 265
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 of the IWAC Private Warrants for a total purchase price of one dollar (the “

#### Transfer
”). In connection with the Transfer, new persons were to be appointed officers and directors of IWAC and IWAC agreed to take such actions necessary to effectuate such changes (the “

### Management Change
”). The Transfer, the Management Change and the other transactions contemplated by the Purchase Agreement are hereinafter referred to as the “

#### Sponsor Handover
.” In connection with the Sponsor Handover, Sriram agreed to assume (i) certain vendor payables then outstanding by IWAC (estimated at approximately $338,345); (ii) the costs and expenses associated with the monthly extensions of IWAC until December 13, 2023 including monthly payments of $160,000; (iii) the costs and expenses for IWAC to take all actions necessary to file a proxy statement and hold a shareholders meeting prior to December 13, 2023 in order to extend IWAC’s term until December 13, 2024 structured in such manner as requested by Sriram. Sriram also agreed to (i) cause IWAC to satisfy all of its public company reporting requirements; (ii) to pay the D&O insurance premiums to extend IWAC’s existing D&O insurance policy (estimated at approximately $20,000); and (iii) to pay all outstanding legal fees owed by IWAC at or before a business combination (estimated at approximately $1.17 million).

On February 1, 2024, the Sponsor Handover was consummated. Suntone Investment Pty Ltd, a designee and affiliate of Sriram, acquired the securities in the Transfer and has subsequently served as the sponsor IWAC.

In connection with the Sponsor Handover and the Management Change contemplated thereby, Suren Ajjarapu, Binson Lau, Matthew Malriat, John Zhong Chen, Yueh Eric Seto, Donald Fell and Michael Peterson were appointed to the IWAC Board. At such time, the then existing members of the IWAC Board and the then existing management team of IWAC (comprising Steven Schapera, Antonio Varano Della Vergiliana, James MacPherson, Robert Quandt, Gael Forterre, Scott Powell and Hadrien Forterre) agreed to resign. The new members of the IWAC Board (including the new CEO and CFO) were introduced to IWAC through various mutual business relationships and Mr. Ajjarapu, who is the controlling person of