Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 215

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 215
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 evaluation of the following facts and circumstances: • Btab’s existing shareholders will have the greatest voting power in Pubco under both the No Redemption Scenario and Maximum Redemption Scenario. • Btab’s existing shareholders will have the ability to nominate a majority of the members of the Board of Pubco. • Btab’s existing senior management will comprise the senior management of Pubco. 3. Adjustments to the Unaudited Pro Forma Condensed Combined Balance Sheet as of June 30, 2025 The pro forma notes and adjustments, based on preliminary estimates that could change materially as additional information is obtained, are as follows:

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Pro Forma Adjustments for Material Events:**

(aa)

To reflect extension payments subsequent to June 30, 2025. These payments are made by the Sponsor into the Trust Account in accordance with a promissory note in order to extend the amount of time IWAC has available to complete its initial Business Combination through the estimated Closing Date.

(bb)

To reflect actual and expected income on Cash held in Trust Account from July 1, 2025 through the estimated Closing Date.

**Pro Forma Other Transaction Accounting Adjustments:**

(a)

To reflect the repayment of the outstanding principal on the IWAC promissory notes on the Closing Date.

(b)

To reflect the repayment of the extension payments to the Sponsor on the Closing Date in accordance with the amended promissory note. The payee will convert the maximum allowable balance under the Amended and Restated Promissory Note, dated January 14, 2025. This maximum balance includes up to $1.5 million of unpaid principal related to working capital expenses, along with any extension payments, with a total combined limit of $4 million.

(c)

To reflect the release of the Cash held in Trust Account to Cash, assuming no IWAC Public Shareholders exercise their right to have their IWAC Class A common shares subject to possible redemption redeemed for their pro rata share of the Trust Account.

(d)

To reflect the cash settlement of $4,025,000 in deferred underwriting fees incurred during IWAC’s initial public offering that are payable in connection with the Closing of the Business Combination.

(e)

To reflect, in the No Redemption Scenario, the exchange of the remaining 1,185,481 issued and outstanding IWAC Class A common shares subject to possible redemption immediately prior to the Closing for the same number of Pubco Class A Shares, which assumes approval of the NTA Proposal and adoption of the N