Company: WELNF
Filing Date: 2025-12-04
Form Type: DEFA14A
Source: 0001104659-25-118484
Chunk: 41

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-12-04
Form: DEFA14A
Chunk 41
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Liquidity, Capital Resources and Going Concern

On December 13, 2021, we consummated
the initial public offering of 11,500,000 units, at $10.00 per unit, which included the full exercise by the underwriters of their over-allotment
option in the amount of 1,500,000 units, generating gross proceeds of $115,000,000.

Simultaneously with the closing
of the initial public offering, we completed the private sale of an aggregate of 6,850,000 warrants to our Prior Sponsor at a purchase
price of $1.00 per private placement warrant, generating gross proceeds of $6,850,000.

A total of $117,300,000 of
the proceeds from the initial public offering and the sale of the private placement warrants was placed in a U.S.-based trust account
maintained by Continental, acting as trustee (the “Trust Account”).

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Transaction costs of the initial
public offering amounted to $6,822,078, consisting of $2,300,000 of underwriting discount, $4,025,000 of deferred underwriting discount,
and $497,078 of actual offering costs. Of these amounts, $302,696 was allocated to the public warrants and charged against additional
paid-in capital and $6,519,382 were allocated to Class A ordinary shares reducing the initial carrying amount of such shares.

For the nine months ended September
30, 2025, net cash provided by operating activities was $81,346. Net loss of $619,485 was decreased by the Sponsor waiver of administrative
services fees of $90,000 and $610,831 related to changes in operating assets and liabilities.

For the nine months ended September
30, 2024, net cash provided by operating activities was $895,468. Net loss of $139,980 was decreased by the Sponsor waiver of administrative
services fees of $330,000 and $705,448 related to changes in operating assets and liabilities.

As of September 30, 2025, we
had cash held in the Trust Account of $15,044,640 (including $347,489 of interest earned on cash held in the Trust Account for the nine
months ended September 30, 2025.

As of September 30, 2025, we
had cash of $0 held outside the Trust Account. We intend to use the funds held