secwatch.observer — SEC 8-K summary
======================================

Issuer:     Integrated Wellness Acquisition Corp (WELNF)
CIK:        0001877557
Form:       8-K
Filed at:   2024-06-05T23:59:59+00:00
Accession:  0001104659-24-068742
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IWAC (SPAC) to merge with Btab Ecommerce in $250M all-stock deal, issuing 25M shares
--------------------------------------------------------------------------------

- IWAC (NYSE: WEL) to merge with Btab Ecommerce Enterprises; consideration $250M in 25M shares valued at $10/sh.
- Post-closing, combined company to rename to Btab Ecommerce Holdings, domesticate to Delaware, and relist.
- Key Btab CEO Binson Lau to exchange existing shares for 100,000 super-voting Class V shares (10K votes each).
- Lock-up: Btab shareholders restricted for 180 days, with early release if IWAC stock price hits $12 for 20 of 30 days.
- Sponsor and significant shareholders commit to vote in favor, waive anti-dilution, and reduce lock-up to 180 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1877557/000110465924068742/0001104659-24-068742-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1877557/000110465924068742/tm2416446d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-068742

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer