Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 94

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 94
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| John Chen, director of IWAC                            | ​ | ​ | At Closing, Mr. Chen will hold a total of 20,000 Pubco Class A Shares, which would have a value of approximately $0.25 million based on the quoted price of the IWAC Class A ordinary shares as of November  3, 2025.                                                                 | ​ | ​ | ​                                                                                                                                                                                                                                           | ​ |
| Yueh Eric Seto, director of IWAC                       | ​ | ​ | At Closing, Mr. Seto will hold a total of 124,100 Pubco Class A Shares, which would have a value of approximately $1.55 million based on the quoted price of the IWAC Class A ordinary shares as of November  3, 2025.                                                                | ​ | ​ | ​                                                                                                                                                                                                                                           | ​ |

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TABLE OF CONTENTS

| ​                                         | ​ | ​ | Interest in Securities                                                                                                                                                                                                   | ​ | ​ | Other Compensation | ​ |
| Matthew Malriat, CFO and director of IWAC | ​ | ​ | At Closing, Mr. Malriat will hold a total of 100,000 Pubco Class A Shares, which would have a value of approximately $1.25 million based on the quoted price of the IWAC Class A ordinary shares as of November 3, 2025. | ​ | ​ | ​                  | ​ |

Because the Founder Shares were initially acquired at a nominal price, our Public Shareholders will incur an immediate and substantial dilution upon the closing of the Business Combination, assuming no value is ascribed to the IWAC Public Warrants. See the section titled “Risk Factors — Risks Related to the Business Combination and IWAC — The Sponsors paid nominal consideration for the Founder Shares they hold. As a result, the Current Sponsor may make a substantial profit if the Business Combination is consummated, even if the shares held by IWAC’s Public Shareholders lose substantial value. For this reason, the Current Sponsor may have a strong economic incentive to approve and complete the Business Combination, even if the Business Combination arguably may not be in the best interests of IWAC’s Public Shareholders.” Potential Dilution at Various Redemption Levels. The below table shows the anticipated share ownership of various holders of Pubco Class A common stock upon closing of the Business Combination in the no redemption, 50% redemption, 75% redemption, and maximum redemption scenarios and is based on the following assumptions: (i) there are no other issu