Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 156

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 156
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 based on estimates as of November 3, 2025, upon the liquidation of its Trust Account. If IWAC is forced to liquidate as a result of the foregoing, investors in IWAC would not be able to participate in any benefits of owning shares in Pubco, including the potential appreciation of the Pubco Class A Shares following the Business Combination and IWAC’s warrants would expire worthless.

The consummation of the Business Combination is subject to a number of conditions, and if those conditions are not satisfied or waived, the Business Combination Agreement may be terminated in accordance with its terms and the Business Combination may not be completed.

The Business Combination Agreement conditions closing of the Business Combination to a number of conditions, including but not limited to, approval of the Business Combination Agreement by Btab shareholders, approval of the proposals required to effect the Business Combination by IWAC shareholders, receipt of certain regulatory approvals, effectiveness of the registration statement of which this joint proxy statement/information statement/prospectus is a part, approval of the shares of Pubco Class A Common Shares to be issued to Btab shareholders for listing on NYSE, the accuracy of the representations and warranties by both parties (subject to the materiality standards set forth in the Business Combination Agreement), and the performance by both parties of their covenants and agreements (subject to the materiality standards set forth in the Business Combination Agreement). These closing conditions may not be fulfilled in a timely manner or at all, and, accordingly, the Business Combination may not be completed. In addition, the parties can mutually decide to terminate the Business Combination Agreement at any time, before or after shareholder approvals, or IWAC or Btab may elect to terminate the Business Combination Agreement in certain other circumstances.

The Sponsors paid nominal consideration for the founder shares they hold. As a result, the Current Sponsor may make a substantial profit if the Business Combination is consummated, even if the shares held by IWAC’s Public Shareholders lose substantial value. For this reason, the Current Sponsor may have a strong economic incentive to approve and complete the Business Combination, even if the Business Combination arguably may not be in the best interests of IWAC’s Public Shareholders.

The personal and financial interests of IWAC’s Sponsor, officers and directors may influence or have influenced their motivation in identifying and selecting a target for an initial business combination, their support for completing the Business Combination and the operation of Pubco following the Business Combination.

IWAC’s Current Sponsor owns 2,000,000 Class B ordinary shares, which were