Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 100

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 100
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 may require. Such risks include, but are not limited to:

### Risks Related to Btab’s Business, Industry and Operations
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Btab’s independent registered public accounting firm have expressed substantial doubt about Btab’s ability to continue as a going concern, and neither Btab nor IWAC can assure you that the consummation of the Business Combination will eliminate this concern.

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We have experienced growth in recent periods and our recent growth rates may not be indicative of our future growth.

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The growth of our business depends on our ability to maintain our existing reseller base and attract new resellers and increase the volume of sales by our resellers.

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We have a limited operating history as a public company, which makes it difficult to forecast our revenue and evaluate our business and future prospects.

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Changes in consumer spending patterns and consolidation within the retail industry may affect us adversely.

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Shipping is a critical part of our business and any changes in our shipping arrangements or any interruptions in shipping could adversely affect our operating results.

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Risks associated with the outsourcing of our fulfillment process and other technology-related functions could materially and adversely affect our business, financial condition, and results of operations.

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Our business is also affected by our ability to further enhance buyer and merchant engagement on our platforms, our ability to satisfy customer requirements and maintain high-quality product offerings, effective pricing of our products so that we are able to attract and retain customers and our ability to manage our costs and expenses by leveraging our scale of business.

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Our operations are dependent on our proprietary and external technology platforms and comprehensive ecosystems, and any systems failures, interruptions, delays in service, catastrophic events, and resulting interruptions in the availability of our products or services could result in harm to our business and our brand, loss of users, customers and partners and subject us to substantial liability.

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Government regulation of the Internet and ecommerce is evolving, and unfavorable changes or failure by us to comply with these regulations could have an adverse effect on our business, financial condition, results of operations and prospects.

**Risks Related to Ownership of Pubco Common Shares Following the Business Combination**

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Each of IWAC and Btab have incurred and will incur substantial costs in connection with the Business Combination and related transactions, such as legal, accounting, consulting, and financial advisory fees.

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The market price of Pubco’s ordinary shares may decline as a result of the Business Combination.

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Pubco stockholders may experience dilution in the future.

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Future sales,