Company: WELNF
Filing Date: 2025-12-04
Form Type: DEFA14A
Source: 0001104659-25-118484
Chunk: 28

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-12-04
Form: DEFA14A
Chunk 28
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 not experienced
losses on this account and management believes the Company is not exposed to significant risks on such account.

Recent Accounting Pronouncements

Management does not believe
that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the
Company’s condensed consolidated financial statements.

NOTE 3 — RELATED PARTY TRANSACTIONS

Founder Shares

On July 7, 2021, the Prior
Sponsor paid an aggregate of $25,000 to cover certain expenses on behalf of the Company in exchange for issuance of 2,875,000 of the Company’s
Class B ordinary shares (the “Founder Shares”). The Founder Shares included an aggregate of up to 375,000 shares subject
to forfeiture by the Prior Sponsor to the extent that the underwriter’s over-allotment option was not exercised in full, so that
the number of Founder Shares would collectively represent 20% of the Company’s issued and outstanding shares after the IPO. Simultaneously
with the closing of the IPO, the underwriters exercised the over-allotment option in full. Accordingly, 375,000 Founder Shares are no
longer subject to forfeiture.

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The Sponsor has agreed, subject
to certain limited exceptions, not to transfer, assign or sell any of the Founder Shares until the earlier of (A) one year after
the completion of a Business Combination or (B) subsequent to a Business Combination, (x) if the last reported sale price of
the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share capitalization, share subdivisions, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 180 days after
a Business Combination, or (y) the date on which the Company completes a liquidation, merger, share exchange, reorganization or other
similar transaction that results in all of the Public Shareholders having the right to exchange their Class A ordinary shares for
cash, securities or other property.

Promissory Note — Related Party

In March 2023, the Prior Sponsor
issued an unsecured promissory note to the Company (the “Extension Note”) in connection with the extension payment made by
the Prior Sponsor for the Initial Extension. The Extension Note is non-interest bearing and payable on the earlier of the date the business
combination is consummated or the liquidation