Company: WELNF
Filing Date: 2025-10-31
Form Type: PRE 14A
Source: 0001104659-25-104954
Chunk: 40

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-10-31
Form: PRE 14A
Chunk 40
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As
an entity incorporated as a Cayman Islands exempted company, the 1% excise tax is not expected to apply to redemptions of our Class A
ordinary shares (absent any regulations and other additional guidance that may be issued in the future with retroactive effect).

However, if we complete an
initial business combination involving a company organized under the laws of the United States, such as the Btab Business Combination,
we may domesticate and continue as a Delaware corporation prior to certain redemptions and, because our securities are trading on the
OTC Markets, it is possible that we will be subject to the excise tax with respect to any subsequent redemptions, including redemptions in connection with the initial business combination, that are treated as repurchases for this purpose (other than, pursuant to recently issued guidance from the Treasury Department, redemptions in complete liquidation of the company). In all cases, the extent of the excise tax that may be incurred will depend on a number of factors, including: the fair market value of our ordinary shares redeemed, the extent such redemptions could be treated as dividends and not repurchases,and the content of any regulations and other additional guidance from the Treasury Department that may be issued and applicable to the redemptions. Issuances of stock by a repurchasing corporation in a year in which such corporation repurchases stock may reduce the amount of excise tax imposed with respect to such repurchase. The excise tax is imposed on the repurchasing corporation itself, not the stockholders from which stock is repurchased. The imposition of the excise tax as a result of redemptions in connection with the initial business combination could, however, reduce the amount of cash available to pay redemptions or reduce the cash contribution to the target business in connection with our initial business combination, which could cause the other shareholders of the combined company to economically bear the impact of such excise tax.

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BACKGROUND</div>

We are a Cayman Islands-incorporated
blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses.

Extension of Time to Complete Business Combination

We originally had 15 months
from the consummation of our initial public offering, or until March 13, 2023, to consummate our initial business combination. However,
as requested by our prior sponsor and as permitted under our amended