secwatch.observer — SEC 8-K summary
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Issuer:     Integrated Wellness Acquisition Corp (WELNF)
CIK:        0001877557
Form:       8-K
Filed at:   2023-11-21T23:59:59+00:00
Accession:  0001104659-23-120433
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Integrated Wellness Acquisition Corp enters sponsor handover; Sriram Associates to acquire control for $1
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- Sponsor IWH Sponsor LP to sell 2,012,500 Class B shares and 4,795,000 private placement warrants to Sriram Associates for $1.
- Acquirer assumes $160,000/month extension costs through Dec 13, 2023, plus expenses to extend SPAC deadline to Dec 13, 2024.
- Acquirer may replace current directors and officers; will use best efforts to find a business combination target.
- Closing conditions include board approval, sponsor approval, underwriter waiver, and filing of Q3 2023 Form 10-Q.
- Acquirer also assumes D&O insurance premiums, outstanding legal fees, and all existing SPAC liabilities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1877557/000110465923120433/0001104659-23-120433-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1877557/000110465923120433/tm2331312d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-120433

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