Company: WELNF
Filing Date: 2025-01-16
Form Type: 8-K
Source: 0001104659-25-004098
Chunk: 0

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-01-16
Form: 8-K
Item: Item 1.01
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Item 1.01      Entry into a Material Definitive Agreement.  

As previously disclosed, on
December 13, 2023, Integrated Wellness Acquisition Corp (the “ Company”) issued a promissory note (the “ Original Note”)
in the aggregate principal amount of up to $1,500,000 to Sriram Associates, LLC, a Delaware limited liability company (“ Sriram”).

On January 14, 2025, the
Company issued an amended and restated promissory note (the “ Note”) in the aggregate principal amount of up to $4,000,000
to Suntone Investment Pty Ltd, an Australian proprietary limited company (the “ Sponsor”). This Note amends and restates in
its entirety the Original Note which was previously issued by the Company to Sriram, as assigned to the Sponsor on June 18, 2024. The
Sponsor may elect to convert up to a maximum amount of $1.5 million of the unpaid principal balance under this Note relating to working
capital expenses into such number of ordinary shares (the “ Conversion Shares”) equal to: (x) the portion of the principal
amount of this Note being converted divided by (y) the conversion price of One Dollar ($1.00), rounded up to the nearest whole number
of ordinary shares. The Conversion Shares shall be issued upon the consummation of the Company’s initial business combination.

The Note bears no interest
and is repayable in full upon the earlier of (a) the date of the consummation of the Company’s initial business combination, and
(b) the date of the liquidation of the Company.

The
issuance of the Note was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933,
as amended.

The foregoing description
is qualified in its entirety by reference to the Note, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by
reference.