Integrated Wellness Finalizes Sponsor Handover and Management Change

Integrated Wellness Acquisition Corp. Class A (WEL) has released an update to notify the public and investors about its asset transaction finalization.

Integrated Wellness Acquisition Corp announced that on November 8, 2023, it entered into a Purchase Agreement facilitating the transfer of its Class B ordinary shares and private placement warrants from its Prior Sponsor to Sriram Associates, LLC for a total purchase price of one dollar. This agreement also allowed the Acquirer to instate new officers or directors at their discretion, an action termed the “Management Change.” The deal, collectively known as the “Sponsor Handover,” was finalized on February 1, 2024.

For further insights into WEL financials, check out TipRanks’ Financials page.

For a comprehensive understanding of the announcement, you can read the full document here.