Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 192

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 192
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 such U.S. Holder under the PFIC rules. Although the issue is not free from doubt, because IWAC is a blank check company with no current active business, based upon the composition of its income and assets, and upon a review of its financial statements, IWAC believes that it likely was a PFIC for its most recent taxable year ended on December 31, 2024, and will likely be considered a PFIC for its current taxable year which ends as a result of the Domestication. For a more complete discussion of the potential application of the PFIC rules to U.S. Holders as a result of the Domestication, see the description in the section entitled “ Proposal Three — The Business Combination Proposal — Material U.S. Federal Income Tax Consequences of the Domestication to IWAC Shareholders — U.S. Holders — Effect of PFIC Rules on the Domestication .”

All holders are urged to consult their tax advisor for the tax consequences of the Domestication to their particular situation. For a more complete discussion of the U.S. federal income tax consequences of the Domestication, see the discussion in the section entitled “ Proposal Three — The Business Combination Proposal — Material U.S. Federal Income Tax Consequences of the Domestication to IWAC Shareholders.**

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IWAC (or Pubco following the Business Combination) could be adversely affected by changes in applicable tax laws, regulations, or administrative interpretations thereof in the United States or other jurisdictions.

IWAC (or Pubco following the Business Combination) could be adversely affected by changes in applicable tax laws, regulations, or administrative interpretations thereof in the United States or other jurisdictions and changes in tax law could reduce IWAC’s after-tax income and adversely affect IWAC’s (or following the Business Combination, Pubco’s) business and financial condition. For example, the U.S. federal tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”), enacted in December 2017, resulted in fundamental changes to the U.S. Internal Revenue Code of 1986 (the “Code”), as amended, including, among many other things, a reduction to the federal corporate income tax rate, a partial limitation on the deductibility of business interest expense, a limitation on the deductibility of certain director and officer compensation expense, limitations on net operating loss carrybacks and carryovers and changes relating to the scope and timing of U.S. taxation on earnings from international business operations. Subsequent legislation, the Coronavirus Aid, Relief, and Economic Security Act