Integrated Wellness Acquisition announces termination of merger agreement

Integrated Wellness Acquisition announced that it notified Refreshing USA, that the Company had elected to terminate the Agreement and Plan of Merger among the parties, dated as of February 10, 2023, effective immediately, pursuant to Section 8.1(b) thereof, since the conditions to the closing of the initial business combination were not satisfied or waived by the outside date of July 31, 2023. As a result, the Merger Agreement is of no further force and effect, with the exception of certain specified provisions in the Merger Agreement, which shall survive the Termination and remain in full force and effect in accordance with their respective terms. The Company and its sponsor intend to seek alternative ways to consummate an initial business combination.