Company: WELNF
Filing Date: 2025-12-04
Form Type: DEFA14A
Source: 0001104659-25-118484
Chunk: 29

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-12-04
Form: DEFA14A
Chunk 29
---
 of the Company.

In June 2023, the Prior Sponsor
issued an additional unsecured promissory note to the Company (the “Second Extension Note”) in connection with the shareholder
approval of the Second Extension. The Second Extension Note is non-interest bearing and payable on the earlier of the date the business
combination is consummated or the liquidation of the Company. The Second Extension Note has a principal amount up to $960,000, and the
Prior Sponsor previously deposited $640,000 pursuant to such note to extend the time by which the Company has to complete an initial Business
Combination from June 13, 2023 to October 13, 2023.

As of September 30, 2025 and
December 31, 2024, the Company had borrowed $1,150,000 under the Extension Note and $640,000 under the Second Extension Note for aggregate
borrowings of $1,790,000. These amounts are recorded to Promissory note – related party on the condensed consolidated balance sheets.

Promissory Note – Suntone

In connection with the Second
Extension, Sriram assumed the monthly extension deposits and a designee and affiliate of Sriram contributed $320,000 to the Trust Account
for the final two extension deposits to extend the time by which the Company has to complete an initial Business Combination from October
13, 2023 to December 13, 2023. The contributions made by a designee and affiliate of Sriram were not pursuant to the Second Extension
Note and instead are recorded to Promissory note - Suntone as of September 30, 2025 and December 31, 2024 on the condensed consolidated
balance sheets.

On December 13, 2023, the Company
issued a promissory note (the “Third Extension Note”) in the aggregate principal amount of up to $1,500,000 to Sriram, pursuant
to which Sriram agreed to loan the Company up to $1,500,000 in connection with the extension of the Company’s Termination Date from
December 13, 2023 to December 13, 2024. The Third Extension Note bears no interest and is repayable in full upon the earlier of (a) the
date of the consummation of the Company’s initial Business Combination, and (b) the date of the liquidation of the Company.

On June 18, 2024, Sriram assigned
the