Integrated Wellness Acquisition Corp (WELNF): debt financing — SPAC shareholders approve 1-year extension; ~$12.6M redeemed

Integrated Wellness Acquisition Corp

Extension deadline moved from Dec 13, 2023 to Dec 13, 2024 via charter amendment.
1,136,155 public shares redeemed for ~$12.6M ($11.09/share); 4,255,117 shares left outstanding.
Company issued up to $1.5M zero-interest promissory note to Sriram Associates for monthly trust deposits of $125K.
Liquidation amendment also approved, allowing board to wind up earlier than Dec 13, 2024.

item 1.01 item 2.03 item 5.03 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Integrated Wellness Acquisition Corp incurred loan of $1,500,000 with Sriram Associates, LLC at no interest maturing 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.

Instrument: loan
Principal: $1,500,000
Counterparty: Sriram Associates, LLC
Rate: no interest
Maturity: 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
Event: incurrence

Exact text from the filing

On December 13, 2023, Integrated Wellness Acquisition Corp (the " Company ") issued a promissory note (the " Note ") in the aggregate principal amount of up to $1,500,000 (the " Extension Funds ") to Sriram Associates, LLC

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Integrated Wellness Acquisition Corp entered into Note with Sriram Associates, LLC valued at up to $1,500,000 (effective 2023-12-13).

Action: entry
Agreement: credit facility
Counterparty: Sriram Associates, LLC
Value: up to $1,500,000
Effective: 2023-12-13

Exact text from the filing

On December 13, 2023, Integrated Wellness Acquisition Corp (the " Company ") issued a promissory note (the " Note ") in the aggregate principal amount of up to $1,500,000 (the " Extension Funds ") to Sriram Associates, LLC

View on SEC.gov

54 debt financings filed in the last 30 days. Browse all debt financings →

Integrated Wellness Acquisition Corp filing history →

Source: SEC EDGAR

accession 0001104659-23-126071

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