Btab Ecommerce Group, Inc. entered into a definitive business combination agreement to acquire Integrated Wellness Acquisition Corp for approximately $280 million in a reverse merger transaction.
Completion of the Transaction is subject to, among other matters, the completion of due diligence, the negotiation of a definitive agreement, satisfaction of the conditions negotiated therein, applicable regulatory approvals and approval of the transaction by the board and stockholders of both companies. The parties expect to announce additional details regarding the proposed Transaction when a definitive agreement is executed. Subject to the signing of definitive agreements, the Transaction is anticipated to be completed in the second half of 2024. As of May 31, 2024, the transaction is expected to close by the end of the fourth quarter of 2024.
Andrew M. Tucker and Lori Anne Czepiel of Nelson Mullins Riley & Scarborough LLP is serving as legal advisor to BBTT. Barry I. Grossman and Lloyd N. Steele of Ellenoff Grossman & Schole, LLP is serving as legal advisor to WEL. Continental Stock Transfer & Trust Company is serving as Transfer agent/Registrar to Integrated Wellness Acquisition Corp.