Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 323

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 323
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 not recognize gain or loss upon the exchange of its IWAC Ordinary Shares solely for IWAC common stock pursuant to the Domestication. A U.S. Holder’s aggregate tax basis in the IWAC common stock received in connection with the Domestication will generally be the same as its aggregate tax basis in the IWAC Ordinary Shares surrendered in the transaction. In addition, the holding period of IWAC common stock received in the Domestication generally will include the holding period of IWAC Ordinary Shares surrendered in the Domestication.

Tax Consequences of the Business Combination to U.S. Holders of IWAC Common Stock after the Domestication

It is the opinion of IWAC’s counsel, Ellenoff Grossman & Schole LLP, that the Business Combination will qualify as an exchange described in Section 351 of the Code. If the exchange so qualifies, a U.S. Holder of IWAC common stock generally will not recognize gain or loss for U.S. federal income tax purposes upon the exchange of shares for Pubco common stock. pursuant to the exchange. However, there can be no assurance that the U.S. Internal Revenue Service (the “IRS”) will not successfully challenge this position, and if so then the exchange of IWAC common stock for Pubco common stock will be a taxable exchange, and the tax consequences described herein will be materially different from those described below. The remainder of this discussion is based on counsel’s opinion that the Business Combination will qualify as an exchange described in Section 351 of the Code. In rendering this opinion, counsel may require and rely upon representations contained in letters and certificates to be received from IWAC and Btab. If the letters or certificates are incorrect, the conclusions reached in the tax opinion could be jeopardized. In addition, the opinion will be subject to certain qualifications and limitations as set forth therein. Based on counsel’s opinion that the Business Combination will qualify as an exchange described in Section 351 of the Code, a U.S. Holder that receives Pubco common stock in exchange for IWAC common stock in the Business Combination generally will not recognize any gain or loss on such exchange. In such case, the aggregate adjusted tax basis of the Pubco common stock received in the Business Combination by a U.S. Holder will be equal to the adjusted tax basis of the IWAC common stock exchange there for. The holding period of the Pubco common stock will include the holding period during which the IWAC common stock exchanged therefor were held by such U.S. Holder (which, as discussed above, will include the holding period