Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 168

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 168
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 common stock;

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a limited amount of news and analyst coverage; and

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a decreased ability to issue additional securities or obtain additional financing in the future.

IWAC and Btab will be subject to business uncertainties while the Business Combination is pending.

Uncertainty about the closing or effect of the Business Combination may affect the relationship between IWAC and Btab and their respective suppliers, users, distributors, licensors, and licensees during the pendency of the Business Combination. Any such impact may have an adverse effect on IWAC or Btab, and consequently on Pubco. These uncertainties may cause parties that deal with IWAC or Btab to seek to change existing business relationships with them and to delay or defer decisions concerning IWAC or Btab. Changes to existing business relationships, including termination or modification, could negatively affect each of IWAC’s and Btab’s revenue, earnings and cash flow, as well as the market price of IWAC’s ordinary shares. Adverse effects arising from the pendency of the Business Combination could be exacerbated by any delays in closing of the Business Combination or termination of the Business Combination Agreement.

Additionally, the attention of IWAC’s and Btab’s management may be directed towards the completion of the Business Combination, including obtaining regulatory approvals and other transaction- related considerations, and may be diverted from the day-to-day business operations of IWAC and Btab, as applicable, and matters related to the Business Combination may require commitments of time and resources that could otherwise have been devoted to other opportunities that might have been beneficial to IWAC and Btab, as applicable. Further, the Business Combination may give rise to potential liabilities, including as a result of pending and future stockholder lawsuits relating to the Business Combination. Any of these matters could adversely affect the businesses, financial condition, or results of operations of IWAC and Btab.

During the pendency of the Business Combination, IWAC and Btab may not be able to enter into a business combination with another party because of restrictions in the Business Combination Agreement, which could adversely affect their respective businesses. Furthermore, certain provisions of the Business Combination Agreement may discourage third parties from submitting alternative takeover proposals, including proposals that may be superior to the arrangements contemplated by the Business Combination Agreement.

Covenants in the Business Combination Agreement impede the ability of IWAC and Btab to make acquisitions or complete other transactions that are not in the ordinary course of business pending completion of the Business Combination. As a result, if the Business Combination is not completed, the parties may be at a disadvantage to their