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Btab Ecommerce Group, an e-commerce company (OTC: BBTT), and Integrated Wellness Acquisition Corp (NYSE: WEL), a special purpose acquisition company, have announced a definitive business combination agreement. The transaction values BBTT at $250 million and involves WEL issuing 25,000,000 shares of its common stock, valued at $10 per share, to BBTT shareholders.
Upon completion, WEL will be renamed Btab Ecommerce Holdings and continue to be listed on the NYSE. The merger is expected to close by the end of Q4 2024. BBTT aims to leverage this merger to expand globally, targeting key markets such as the United States, United Kingdom, and Asia. BBTT’s platform offers a diverse range of services, including product supply, marketing, and logistics, to support small businesses in establishing an online presence.
Legal advisors for the deal include Nelson Mullins Riley & Scarborough LLP for BBTT and Ellenoff Grossman & Schole, LLP for WEL.
