Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 98

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 98
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 Rights Under Applicable Organizational Documents .”

#### U.S. Federal Income Tax Considerations
For a discussion summarizing the material U.S. federal income tax considerations of the Domestication and exercise of redemption rights, please see “ Proposal Three — The Business Combination Proposal — Material U.S. Federal Income Tax Consequences of the Domestication to IWAC Shareholders ” and “ Proposal Three — The Business Combination Proposal — Material U.S. Federal Income Tax Consequences to Redemption — Tax Consequences to U.S. Holders that Elect to Have Their Ordinary Shares Converted for Cash .”

#### Expected Accounting Treatment
The Business Combination represents a reverse merger and will be accounted for as a reverse recapitalization, with no goodwill or other intangible assets recorded, in accordance with accounting principles generally accepted in the United States of America. Under this method of accounting, IWAC will be treated as the acquired company for financial reporting purposes. Accordingly, for accounting purposes, the financial statements of Pubco will represent a continuation of the financial statements of Btab with the Business Combination treated as the equivalent of Btab issuing shares for the net assets of IWAC, accompanied by a recapitalization. The net assets of IWAC will be recognized at historical cost (which is expected to be consistent with carrying value), with no goodwill or other intangible assets recorded. This determination is primarily based on Btab stockholders comprising a relative majority of the voting power of Pubco and having the ability to nominate a majority of the members of the Board of Pubco, and Btab’s existing senior management comprising the senior management of Pubco. Operations prior to the Business Combination will be presented as those of Btab in future reports of Pubco.

There will be no accounting effect or change in the carrying amount of the assets and liabilities of IWAC as a result of the Domestication. The business, capitalization and liabilities of IWAC immediately following the Domestication will be the same as those of IWAC immediately prior to the Domestication. There will also not be any accounting impact regarding the change in par value in the shares of IWAC as a result of the Domestication.

#### Regulatory Matters
The Mergers and the other transactions contemplated by the Business Combination Agreement are not subject to any additional U.S. federal or state regulatory requirements or approvals, or any regulatory requirements or approvals under the laws of the Cayman Islands except for the approval of the Registrar of Companies in the Cayman Islands to effect the Domestication.

#### Emerging Growth Company
IWAC is an “emerging growth