Company: WELNF
Filing Date: 2025-11-17
Form Type: DEF 14A
Source: 0001104659-25-113213
Chunk: 56

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-17
Form: DEF 14A
Chunk 56
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 not completed. |
| · | the fact that the Sponsor, its affiliates and the prior sponsor have waived their right to redeem their Class B ordinary shares held by them, or to receive distributions from the Trust Account with respect to their Class B ordinary shares upon IWAC’s liquidation and dissolution if IWAC is unable to consummate its initial business combination;                            |

| · | the Company’s Sponsor, officers and directors and their affiliates, are entitled to reimbursement of out-of-pocket expenses incurred by them in connection with certain activities on the Company’s behalf, such as identifying and investigating possible business targets and business combinations. However, if the Company fails to consummate a business combination within the required time period under its organizational documents, these persons will not have any claim against the Trust Account for reimbursement. Accordingly, the Company may not be able to reimburse these expenses if the Business Combination is not completed by December 15, 2025. As of September 30, 2025, there were no unreimbursed expenses. |
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| · | the Company’s existing directors and officers will be eligible for continued indemnification and continued coverage under the Company’s directors’ and officers’ liability insurance after the Business Combination.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |

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| · | The fact that the following individuals have a material interest in the Sponsor, which represent indirect interests in the following securities: |

| Name of Person |     | Class B         
 ordinary shares |           |     | Private   
 Placement 
 Warrants  |           |
| Jiang Hui Bao  |     |                 | 2,000,000 |     |           | 4,795,000 |

The foregoing interests present
a risk that the Sponsor and IWAC’s officers and directors may be incentivized to complete a business combination with a less favorable
target company or on terms less favorable to the public shareholders rather than to liquidate, in which case the Sponsor would lose its
entire investment. As a result, the Sponsor and IWAC’s officers and directors may have a conflict of interest in determining whether
Btab is an appropriate business with which to effectuate a business combination and/or in evaluating the terms of the Business Combination.

Redemption Rights

Pursuant to our M&A,
our public shareholders will be provided with the opportunity to redeem their public shares upon the approval of the M&A Amendments,
at a per-share price, payable in cash