Company: WELNF
Filing Date: 2025-11-17
Form Type: DEF 14A
Source: 0001104659-25-113213
Chunk: 80

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-17
Form: DEF 14A
Chunk 80
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its pro rata share of the assets of any corporation in which it is considered to own at least 25% of the shares by value, are held for
the production of, or produce, passive income. Passive income generally includes dividends, interest, rents and royalties (other than
rents or royalties derived from the active conduct of a trade or business) and gains from the disposition of passive assets.

Because we are a blank check
company, with no current active business, we believe that it is likely that we have met the PFIC asset or income test beginning with our
initial taxable year. However, pursuant to a start-up exception, a corporation will not be a PFIC for the first taxable year the corporation
has gross income, if (1) no predecessor of the corporation was a PFIC; (2) the corporation satisfies the IRS that it will not
be a PFIC for either of the first two taxable years following the start-up year; and (3) the corporation is not in fact a PFIC for
either of those years. The actual PFIC status of the Company for its current taxable year or any subsequent taxable year will not be determinable
until after the end of such taxable year. If we do not satisfy the start-up exception, we will likely be considered a PFIC since our date
of formation, and will continue to be treated as a PFIC until we no longer satisfy the PFIC tests (although, as stated below, in general
the PFIC rules would continue to apply to any U.S. holder who held our securities at any time we were considered a PFIC).

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If we are determined to be
a PFIC for any taxable year (or portion thereof) that is included in the holding period of a Redeeming U.S. Holder of our shares or warrants
and, in the case of our shares, the Redeeming U.S. Holder did not make either a timely QEF election for our first taxable year as a PFIC
in which the Redeeming U.S. Holder held (or was deemed to hold) shares or a timely “mark to market” election, in each case
as described below, such holder generally will be subject to special rules with respect to:

| · | any gain recognized by the Redeeming U.S. Holder on the sale or other disposition of its shares or warrants (which would include the redemption, if such redemption is treated as a sale under the rules discussed under the heading