Company: WELNF
Filing Date: 2025-12-04
Form Type: DEFA14A
Source: 0001104659-25-118484
Chunk: 10

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-12-04
Form: DEFA14A
Chunk 10
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, 2021, the Company consummated the IPO
of 11,500,000 units (the “Units” and, with respect to the Class A ordinary shares included in the Units sold, the “Public
Shares”), which includes the exercise by the underwriter of its over-allotment option in the amount of 1,500,000 Units, at $10.00
per Unit, generating gross proceeds of $115,000,000. Each Unit consists of one Public Share and one-half of one warrant (“Public
Warrants”). Each whole Public Warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share,
subject to adjustment (see Note 4).

Simultaneously with the closing
of the IPO, the Company consummated the sale of 6,850,000 warrants (each, a “Private Placement Warrant” and, collectively,
the “Private Placement Warrants”) at a price of $1.00 per Private Placement Warrant in a private placement to IWH Sponsor
LP (the “Prior Sponsor”), generating proceeds of $6,850,000.

Transaction costs of the IPO
amounted to $6,822,078, consisting of $2,300,000 of underwriting discount, $4,025,000 of deferred underwriting discount, and $497,078
of offering costs. Of these amounts, $302,696 was allocated to the Public Warrants and charged against additional paid-in capital and
$6,519,382 were allocated to Class A ordinary shares subject to possible redemption reducing the initial carrying amount of such
shares.

Sponsor Handover

On November 8, 2023, the Company
entered into a purchase agreement (the “Purchase Agreement”) with IWH Sponsor LP, the Company’s Prior Sponsor, and Sriram
Associates, LLC ( “Sriram”), pursuant to which, the Prior Sponsor agreed to transfer to Sriram or its designees (i) 2,012,500
of the Company’s Class B ordinary shares and (ii) 4,795,000 of the Company’s private placement warrants for a total purchase
price of one dollar (the “Transfer”). In connection with the Transfer, new persons were to be appointed officers and directors
of the Company and the Company agreed to take such actions necessary to effectuate such changes (the “Management Change”).
The Transfer, the Management Change and the other transactions contemplated by the Purchase