Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 214

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 214
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| Pubco Class A Shares held by former IWAC directors and executive officers﻿(1) | ​ | ​ | ​                                           | ​ |     430,000 | ​ | ​ | ​ | ​                  | ​ | 0.3%   | ​ | ​ | ​ | ​                                                | ​ |     430,000 | ​ | ​ | ​ | ​                  | ​ | 0.3%   | ​ | ​ |
| Total(2)                                                                      | ​ | ​ | ​                                           | ​ | 128,960,481 | ​ | ​ | ​ | ​                  | ​ | 100.0% | ​ | ​ | ​ | ​                                                | ​ | 127,775,000 | ​ | ​ | ​ | ​                  | ​ | 100.0% | ​ | ​ |

**(1) Represents Pubco Class A Shares held by certain individuals who served as directors and executive officers of IWAC prior to the Business Combination. Following the close of the Business Combination, one of these individuals, who holds 100,000 of these Pubco Class A Shares, will continue to serve as a director and executive officer post-Business Combination. (2) The table above does not include up to 3,908,280 Pubco Class A shares issuable upon conversion of the convertible promissory note held by the Current Sponsor. Conversion of this note is at the election of the Current Sponsor and is not automatic at the Closing. Accordingly, such shares are not considered outstanding for voting purposes immediately following the Closing. If the Current Sponsor elects to convert, each such share would carry one vote per share. 2. Accounting for the Business Combination Notwithstanding the legal form, the Business Combination will be accounted for as a reverse recapitalization in accordance with U.S. GAAP and not as a business combination under ASC 805. Under this method of accounting, IWAC, will be treated as the acquired company for accounting purposes, whereas Btab will be treated as the accounting acquirer. In accordance with this method of accounting, the Business Combination will be treated as the equivalent of Btab issuing shares for the net assets of IWAC, accompanied by a recapitalization. The net assets of Btab will be stated at historical cost, with no goodwill or other intangible assets recorded, and operations prior to the Business Combination will be those of Btab. Btab has been determined to be the accounting acquirer for purposes of the Business Combination based on an