Company: WELNF
Filing Date: 2025-11-12
Form Type: DEFM14A
Source: 0001104659-25-109577
Chunk: 543

Company: Integrated Wellness Acquisition Corp
Filing Date: 2025-11-12
Form: DEFM14A
Chunk 543
---
 but not limited to (i) the costs and expenses associated with the monthly extension approved by the SPAC shareholders at the June 2023 Meeting; and (ii) the costs and expenses for IWAC to take all actions necessary to file a proxy statement and hold a shareholders meeting prior to December 13, 2023 in order to extend the term of IWAC to the date which is up to 36 months following the consummation of its IPO. In connection with the Transfer, new persons were to be appointed officers and directors of IWAC and IWAC agreed to take such actions necessary to effectuate such changes (the “

### Management Change
”). The Transfer, the Management Change and the other transactions contemplated by the Purchase Agreement are hereinafter referred to as the “

#### Sponsor Handover
.” In connection with the Sponsor Handover, Sriram agreed to assume (i) certain vendor payables currently outstanding by IWAC; (ii) the costs and expenses associated with the monthly extensions of IWAC until December 13, 2023 including monthly payments of $160,000; (iii) the costs and expenses for IWAC to take all actions necessary to file a proxy statement and hold a shareholders meeting prior to December 13, 2023 in order to extend IWAC’s term until December 13, 2024 structured in such manner as requested by Sriram. Sriram also agreed to (i) cause IWAC to satisfy all of its public company reporting requirements; (ii) to pay the D&O insurance premiums to extend IWAC’s existing D&O insurance policy; and (iii) to pay all outstanding legal fees owed by IWAC at or before a business combination.

As of June 30, 2025, a designee and affiliate of Sriram has paid $3,407,063 for the Company’s outstanding obligations and deposits into the Trust Account, which are recorded as a liability on the consolidated balance sheets.

On February 1, 2024, the Sponsor Handover was consummated (the “Closing”). Suntone Investment Pty Ltd (“Suntone”), a designee and affiliate of Sriram, acquired the securities in the Transfer and has subsequently served as the Sponsor of the Company. In connection with the Closing, the parties agreed to the changes to the Company’s management team and board of directors.

#### The Trust Account
Following the closing of the IPO on December 13, 2021, an amount of $117,300,000 ($10