Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 151

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 151
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 to Pubco.

Since we have not consummated our initial Business Combination by December 13, 2024, our securities have been delisted from the NYSE. Such delisting could have a material adverse effect on the trading of our securities and may adversely affect our ability to consummate an initial Business Combination

On December 13, 2024, IWAC received written notice from the NYSE indicating that the staff of NYSE Regulation had determined to commence proceedings to delist IWAC’s securities from the NYSE due to IWAC’s failure to consummate a business combination within the shorter of (i) the time period specified by its constitutive documents or by contract or (ii) three years following the closing of IWAC’s initial public offering. Trading in IWAC’s securities was suspended immediately after market close on December 13, 2024 (the “

#### Trading Suspension
”). Following Trading Suspension, IWAC’s units, Class A ordinary shares and warrants became eligible to trade on the OTC Markets under the ticker symbols “WELUF,” “WELNF,” and “WELWF,” respectively.

On January 16, 2025, the NYSE filed a Form 25, formally removing IWAC’s securities from the NYSE.

In all cases, IWAC and Btab are diligently working to satisfy or waive applicable closing conditions to complete the Business Combination and to effect trading of Pubco on Nasdaq as soon as practicable. Although the parties intend to complete the Business Combination as soon as practicable, it is uncertain if PubCo will be able to meet Nasdaq’s initial listing requirements to list its securities on Nasdaq.

If (i) Pubco is not able to list its securities on Nasdaq or another national securities exchange, (ii) the parties to the Business Combination Agreement waive applicable listing conditions as a condition to the Closing and (iii) the Business Combination closes and shareholders receive unlisted shares, then Pubco expects that its securities could potentially be quoted on an over-the-counter market. If this were to occur, Pubco could face significant material adverse consequences (along with IWAC, which is currently delisted and may suffer such adverse consequences), including:

•

no longer being attractive as a merger partner;

•

an inability to meet a condition to closing the Business Combination;

•

a limited availability of market quotations for our securities;

•

reduced liquidity for our securities;

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•

a determination that our Ordinary Shares are a