INTEGRATED WELLNESS ACQ Stock Price, News & Analysis
Company Description
Integrated Wellness Acquisition Corp (historically listed on the New York Stock Exchange under the ticker WEL) is a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses. The company’s structure and stated purpose are described consistently across its public communications and SEC filings.
According to company disclosures, Integrated Wellness Acquisition Corp focuses its search for a business combination on opportunities in the health, nutrition, fitness, wellness, and beauty sectors. It targets businesses connected to products, devices, applications, and technology that drive growth within these verticals. While it may evaluate targets in any industry or sector, its public statements emphasize this wellness-oriented focus.
The company completed an initial public offering of units on the New York Stock Exchange, with each unit consisting of one Class A ordinary share and a fraction of a redeemable warrant. After the units began trading, the Class A ordinary shares and warrants were expected to trade separately under the symbols WEL and WEL WS, respectively. As a SPAC, Integrated Wellness Acquisition Corp raised capital in its IPO with the intention of placing the proceeds in a trust account to be used in connection with a future business combination, subject to shareholder approval and applicable regulations.
Integrated Wellness Acquisition Corp has described itself in SEC filings and press releases as a Cayman Islands exempted company with limited liability, with principal executive offices in New York, New York. Its periodic reports and notifications to the U.S. Securities and Exchange Commission provide additional detail on its operating expenses, trust account interest income, and other SPAC-related financial items, reflecting the costs of formation, legal and accounting services, insurance, listing fees, and administrative expenses while it seeks a suitable transaction.
Business focus and sector orientation
The company’s stated strategy centers on identifying businesses in the broader wellness ecosystem, including health, nutrition, fitness, wellness, and beauty. Public descriptions highlight an interest in products and technologies that support growth in these areas, as well as devices, applications, and related technology platforms. This focus is reiterated in multiple press releases describing the company and its objectives.
As a blank check company, Integrated Wellness Acquisition Corp does not describe operating products or services of its own. Instead, its value proposition to investors is tied to its ability to complete a qualifying business combination with one or more operating companies that fit its sector focus. The company has also disclosed, in various communications, that it may evaluate targets in other industries if attractive opportunities arise, even though its primary emphasis remains on wellness-related sectors.
Business combination activity
Over time, Integrated Wellness Acquisition Corp has announced and updated the market on proposed business combinations. In one earlier instance, the company entered into a merger agreement with Refreshing USA, LLC, then later announced that it had elected to terminate that agreement after conditions to closing were not satisfied or waived by a specified outside date. Following that termination, the company stated that it and its sponsor intended to seek alternative ways to consummate an initial business combination.
Subsequently, Integrated Wellness Acquisition Corp announced a proposed business combination with Btab Ecommerce Group, Inc., a global e-commerce and technology company. Public communications describe Btab as operating digital platforms, product supply chains, and business services, with an emphasis on enabling small businesses through technology-driven commerce. In connection with this proposed transaction, a registration statement on Form S-4 was filed by a newly created holding company, IWAC Holding Company Inc. (referred to as Pubco), with the SEC. The company has reported that its shareholders later voted to approve the proposed business combination with Btab at an extraordinary general meeting, with all proposals required to consummate the merger approved, subject to customary closing conditions.
These disclosures indicate that Integrated Wellness Acquisition Corp has actively pursued its stated objective of effecting a business combination, including negotiating agreements, filing registration materials, and seeking shareholder approvals. However, closing of any proposed transaction remains subject to the conditions specified in the relevant agreements and regulatory filings.
Regulatory filings and reporting
Integrated Wellness Acquisition Corp files periodic reports and current reports with the U.S. Securities and Exchange Commission under the Securities Exchange Act of 1934. For example, it has filed a Form 8-K to report the joint announcement with Btab regarding the public filing of the Form S-4 registration statement by Pubco, and to provide information about the proposed business combination and related proxy and information statements.
The company has also filed a Form 12b-25 (Notification of Late Filing) in connection with a quarterly report on Form 10-Q for a period ended June 30, 2025. In that filing, the company explained that it was unable to file the Form 10-Q within the prescribed time period without unreasonable effort or expense and anticipated filing within the grace period allowed by SEC rules. The notification also included a narrative discussion of anticipated changes in results of operations, describing net loss components such as formation and operating costs, accounting and legal expenses, insurance expense, administrative expenses due to related parties, and interest earned on cash held in the trust account.
These filings provide insight into the typical financial profile of a SPAC in its pre-combination stage, where expenses related to maintaining the public company and pursuing a transaction are partially offset by interest income on funds held in trust.
Role within the SPAC and wellness landscape
Within the broader capital markets, Integrated Wellness Acquisition Corp represents a SPAC that has publicly articulated a focus on wellness-related industries, including health, nutrition, fitness, wellness, and beauty. Its public materials emphasize interest in businesses that develop products, devices, applications, and technology supporting these sectors. Through its proposed combination with Btab, it has also engaged with the e-commerce and technology space, reflecting the flexibility SPACs have in aligning with operating companies that may extend or complement their initial sector focus.
Investors and observers reviewing Integrated Wellness Acquisition Corp typically consider its sector focus, the experience and decisions of its management and board as described in public documents, and the specific terms and progress of any announced business combination. The company’s SEC filings, proxy materials, and press releases together form the primary record of its activities and strategic direction.
Key characteristics
- Entity type: Special purpose acquisition company (blank check company)
- Stated purpose: Effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses
- Sector focus: Health, nutrition, fitness, wellness, and beauty sectors, and related products, devices, applications, and technology
- Public listing: Units, Class A ordinary shares, and warrants initially associated with the New York Stock Exchange under tickers including WEL.U, WEL, and WEL WS, as described in IPO-related press releases
- Regulatory oversight: Subject to SEC reporting requirements, including Forms 10-K, 10-Q, 8-K, and related proxy and registration statements
FAQs about Integrated Wellness Acquisition Corp (WEL)
- What is Integrated Wellness Acquisition Corp (WEL)?
Integrated Wellness Acquisition Corp is a special purpose acquisition company formed to complete a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses. It has emphasized a focus on health, nutrition, fitness, wellness, and beauty sectors.
- What sectors does WEL focus on for potential business combinations?
Public descriptions state that WEL intends to focus on businesses in the health, nutrition, fitness, wellness, and beauty sectors, particularly those involving products, devices, applications, and technology that drive growth in these areas. While it may consider opportunities in other industries, its communications highlight this wellness-oriented focus.
- Is WEL an operating company?
WEL is described as a blank check company or SPAC. It does not present itself as having its own operating products or services; instead, it raises capital and seeks to complete a business combination with one or more operating businesses that meet its criteria.
- What stock exchange has WEL been associated with?
Press releases describe the listing of WEL’s units on the New York Stock Exchange, initially under the ticker WEL.U. Once the securities comprising the units began separate trading, the Class A ordinary shares and warrants were expected to be listed on the NYSE under the symbols WEL and WEL WS, respectively.
- Has WEL announced any business combinations?
WEL has announced proposed business combinations in its public communications. It previously entered into a merger agreement with Refreshing USA, LLC and later announced the termination of that agreement when closing conditions were not met by a specified date. It has also announced a proposed business combination with Btab Ecommerce Group, Inc., including the filing of a Form S-4 registration statement by a newly formed holding company.
- Did WEL’s shareholders approve a business combination?
According to a press release, shareholders of Integrated Wellness Acquisition Corp voted to approve the proposed business combination with Btab Ecommerce Group, Inc. at an extraordinary general meeting, with all shareholder proposals required to consummate the merger approved. Completion of the transaction remains subject to customary closing conditions described in the proxy statement and related filings.
- What information does WEL’s Form 12b-25 provide?
In a Form 12b-25 notification of late filing, WEL reported that it could not file its Form 10-Q for a specified quarter within the prescribed time period without unreasonable effort or expense. The filing explains that additional time was needed to finalize financial statements and includes a narrative about anticipated changes in results of operations, detailing categories of expenses and interest income on trust account funds.
- How does WEL generate income before a business combination?
As described in its Form 12b-25, WEL’s financial results in the pre-combination stage reflect net losses driven by formation and operating costs, accounting and legal expenses, insurance, listing fees, and administrative expenses, partially offset by interest earned on cash held in its trust account. This pattern is typical of SPACs prior to completing a business combination.
- Where can investors find official information about WEL?
Official information about WEL is available in its filings with the U.S. Securities and Exchange Commission, including Forms 10-K, 10-Q, 8-K, registration statements, and proxy materials, as well as in its press releases. These documents describe its structure, objectives, proposed transactions, and financial information.
- What is the relationship between WEL and Btab Ecommerce Group, Inc.?
WEL and Btab Ecommerce Group, Inc. have announced a proposed business combination. A registration statement on Form S-4 has been filed by IWAC Holding Company Inc. (Pubco) in connection with this transaction, and WEL has reported that its shareholders approved the business combination proposals, subject to the satisfaction or waiver of customary closing conditions and regulatory approvals.