Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 162

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 162
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 of the Business Combination. Assuming maximum redemptions by IWAC’s Public Shareholders and subject to the other assumptions described under the section entitled “ Unaudited Pro Forma Condensed Combined Financial Information ,” IWAC’s Public Shareholders and the Current Sponsor would hold in the aggregate approximately 0% and 17.3%, respectively, of the outstanding economic interests in Pubco following the consummation of the Business Combination. Without limiting the other assumptions described under the section entitled “ Unaudited Pro Forma Condensed Combined Financial Information ,” these ownership percentages do not take into account:

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any warrants or options to purchase the common stock that will be outstanding following the Business Combination; and

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any equity awards that may be issued by Pubco.

If any ordinary shares are redeemed in connection with the Business Combination, the percentage of Pubco’s outstanding voting stock held by the current holders of IWAC will decrease relative to the percentage held if none of the ordinary shares are redeemed. To the extent that any of the outstanding warrants are exercised, IWAC’s existing shareholders may experience substantial dilution. Public Shareholders will also experience dilution in ownership of Pubco after the Closing as a result of future equity and equity-linked issuances by Pubco, which the Company may grant or issue from time to time.

IWAC has no operating history and is subject to a mandatory liquidation and subsequent dissolution requirement. As such, there is a risk that IWAC will be unable to continue as a going concern if it does not consummate an initial business combination by December 15, 2025 (unless extended by IWAC’s shareholders). If IWAC is unable to effect an initial business combination by December 15, 2025, IWAC will be forced to liquidate and its warrants will expire worthless.

IWAC is a blank check company, and as it has no operating history and is subject to a mandatory liquidation and subsequent dissolution requirement, there is a risk that IWAC will be unable to continue as a going concern if it does not consummate an initial business combination by December 15, 2025 (unless extended by IWAC shareholders). Unless IWAC amends its Existing Organizational Documents and certain other agreements into which IWAC has entered to expand the life of IWAC, if IWAC does not complete an initial business combination by December 15, 2025, IWAC will: (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than