Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 49

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 49
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 date, the following, which are material potential sources of future dilution that are considered improbable by the Company to be effected at or prior to the consummation of the Business Combination: (i) Excludes 5,750,000 shares underlying certain Pubco warrants, previously IWAC Public Warrants and automatically converted into Pubco warrants on the Closing Date, under the No Redemption and Maximum Redemption Scenarios. (ii) Excludes 4,795,000 shares underlying certain Pubco warrants, previously IWAC private placement warrants held by the Current Sponsor and automatically converted into Pubco warrants on the Closing Date, under the No Redemption and Maximum Redemption Scenarios. (ii) Excludes 2,055,000 shares underlying certain Pubco warrants, previously IWAC private placement warrants held by the Prior Sponsor and automatically converted into Pubco warrants on the Closing Date, under the No Redemption and Maximum Redemption Scenarios. Upon completion of the Business Combination, Pubco will qualify as a “controlled company” under the corporate governance rules of the Nasdaq Capital Market (“Nasdaq”). This is because Binson Lau, Pubco’s chairman of the board, will beneficially own up to approximately 36% of the issued and outstanding Pubco Class A Shares and 100% of the issued and outstanding Pubco Class V Shares (on an as-converted basis), depending on the level of redemptions by IWAC’s public shareholders. Each Pubco Class V Share carries 1,000 votes per share, resulting in Mr. Lau holding more than 50% of the total voting power for the election of directors. Under Nasdaq rules, a company in which more than 50% of the voting power for the election of directors is held by an individual, group, or another company is considered a “controlled company” and may elect not to comply with certain Nasdaq corporate governance requirements. Pubco currently intends to rely on these exemptions upon consummation of the Business Combination. As a result, Pubco’s stockholders will not have the same protections afforded to stockholders of companies that are subject to all Nasdaq corporate governance requirements. Q: HOW DOES THE CURRENT SPONSOR INTEND TO VOTE ON THE PROPOSALS? A: The Current Sponsor owns and is entitled to vote an aggregate of approximately 49.3% of the outstanding IWAC ordinary shares. The Current Sponsor has agreed, among other things, to (i) vote all IWAC ordinary shares held by the Current Sponsor at any meeting of the shareholders of