Integrated Wellness Acquisition, Btab Ecommerce enter into BCA

Btab Ecommerce Group and Integrated Wellness Acquisition announced that they have entered into a definitive business combination agreement, BCA, providing for a business combination between WEL and BBTT. Upon completion of the Transaction, WEL will be renamed Btab Ecommerce Holdings, Inc and is expected to continue to be listed on NYSE. The Transaction values BBTT at an equity value of U.S. $250 million. Under the terms of the BCA, a wholly owned subsidiary of WEL will merge with and into BBTT, with BBTT surviving the merger and becoming a wholly owned subsidiary of WEL. WEL will issue 25,000,000 shares of its common stock, with each WEL share valued at $10 per share, to the BBTT shareholders as merger consideration, in exchange for all of the issued and outstanding shares of BBTT stock. It is currently anticipated that the transaction will close by the end of the fourth quarter of 2024.