Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 41

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 41
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, manufactures, and distributes a range of furniture, home goods, and food products through both its own production facilities and third-party suppliers. The company supplies products to resellers, wholesalers, and direct customers, supporting their business operations through an integrated commerce infrastructure. The company’s commerce solutions include product supply, marketing platforms, physical showrooms, warehousing, fulfillment coordination, and after-sales support, enabling businesses to operate efficiently and scale their sales channels. Btab facilitates commerce by providing logistics and fulfillment services, including storage, delivery coordination, and pick-up management, to help businesses optimize their distribution strategies. The company also offers marketing and business management tools to support customer engagement, advertising, and brand development. In addition, its after-sales support services, such as exchange coordination and return management, ensure reliability for both resellers and end customers. By leveraging global supplier partnerships and bulk purchasing capabilities, Btab enables businesses to access cost-effective procurement solutions, inventory stability, and a broad range of product offerings. Through its hybrid business model, Btab functions as both a direct supplier and a digital commerce enabler, providing businesses with the necessary tools and infrastructure to manage operations through technology-driven automation and integrated supply chain solutions.

The IWAC Board and the Btab Board have approved the proposed Business Combination.

Based on its due diligence investigation of Btab and the industry in which it operates, including the financial and other information provided by Btab in the course of its negotiations in connection with the Business Combination Agreement, IWAC believes that the Business Combination with Btab will provide IWAC shareholders with an opportunity to participate in the ownership of a company with significant growth potential.

Q:

When was the Btab LOI signed, and was the IWAC Board aware of any conflict at that time?

A:

The non-binding Btab LOI was signed on February 8, 2024. At the time of signing, the IWAC Board had not yet been informed of the potential conflict of interest involving Mr. Binson Lau, who was simultaneously serving as a director and Chair of the IWAC Board and as the Chief Executive Officer of Btab. IWAC had also not yet engaged counsel to advise on Cayman Islands conflict-of-interest procedures. Because the LOI was non-binding, Company management had the authority to execute the LOI without Board approval. Once negotiations progressed toward a definitive agreement, IWAC retained appropriate counsel and formed a special committee of the Board to review and approve the transaction.

Q:

DID THE IWAC BOARD OBTAIN A THIRD-PARTY VALU