Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 273

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 273
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 other matters considered in connection with the preparation of its opinion is attached to this proxy statement/prospectus as Annex G . The IWAC Board members asked a number of questions to the representatives of Mentor related to the methodology and analysis included in their process and assessment. Specific questions to Mentor included how the model was built, what financial figures were included and used in order to build the model and how the valuation associated with Btab compared to other recent similar SPAC transactions. Mentor informed the IWAC Board Members that the model was built based on the final projections included below and utilizing primarily a weighted average of the future cash flows of the company. Additionally, Mentor noted that the valuation was reasonable, given the peer groups and market conditions.

After the Mentor presentation, Mentor was excused from the meeting. Suren Ajjarapu, a member of the Special Committee, provided an update to the full IWAC Board and informed them that the Special Committee had unanimously approved the proposed transaction, subject to receipt of the final fairness opinion, and recommended to the full Board that it also approve the Business Combination. EGS then provided a high level summary of the transactions, the Business Combination Agreement and the material ancillary documents. Prior to the meeting, representatives of EGS provided the IWAC Board with the latest draft of the Business Combination Agreement and a summary of the key terms in the Business Combination Agreement and ancillary documents. After considering the proposed terms of the Business Combination Agreement, and the related ancillary documents (such as Sponsor Letter Agreement, the Shareholder Support Agreement, and Lock-Up Agreement), and taking into account the other factors described below under the caption “— Recommendation of the Board and Reasons for the Business Combination ,” the IWAC Board unanimously approved the Business Combination Agreement and the Business Combination, which approval included the two non-employee directors on the IWAC Board. None of the IWAC Board members abstained or voted against the Business Combination Agreement. In addition to the Business Combination Agreement, the IWAC Board specifically approved the Sponsor Letter Agreement, the Shareholder Support Agreement, Lock-Up Agreement, each of which was attached as an exhibit the Business Combination Agreement and each of which would be signed concurrently with the Business Combination Agreement. The IWAC Board also generally approved the execution of other ancillary documents that were referred to the Business Combination Agreement, including the Amended Pubco Certificate of Incorporation and the Pubco Bylaws.

On July 16, 2024, Btab and IWAC agreed to change the structure of the Business Combination to a “double dummy