Integrated Wellness Acquisition Corp Q2 2024 Update

TL;DR

WEL's Q2 2024: $4.26M assets, $2.88M liabilities. Watch for sponsor deals.

AI Summary

Integrated Wellness Acquisition Corp filed a 10-Q for the period ending June 30, 2024. The company reported $4.26 million in assets and $2.88 million in liabilities. Key financial events include working capital loans and sponsor-related transactions.

Why It Matters

This filing provides insight into the financial health and operational status of Integrated Wellness Acquisition Corp as of mid-2024, which is crucial for investors assessing its performance.

Risk Assessment

Risk Level: medium — The company is a SPAC, which inherently carries higher risk due to its reliance on a future business combination.

Key Numbers

• $4.26M — Total Assets (As of June 30, 2024)
• $2.88M — Total Liabilities (As of June 30, 2024)
• $0 — Net Income (For the period ending June 30, 2024)

Key Players & Entities

• Integrated Wellness Acquisition Corp (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• $4,255,117 (dollar_amount) — Total assets
• $2,875,000 (dollar_amount) — Total liabilities
• 2021-12-13 (date) — Date related to public warrants

FAQ

Key Financial Figures

• $0.0001 — nsisting of one Class A ordinary share, $0.0001 par value, and one-half of one redeemab
• $11.50 — able for one Class A ordinary share for $11.50 per share WEL.WS The New York Stock

Filing Documents

• wel-20240630x10q.htm (10-Q) — 952KB
• wel-20240630xex31d1.htm (EX-31.1) — 13KB
• wel-20240630xex31d2.htm (EX-31.2) — 13KB
• wel-20240630xex32d1.htm (EX-32.1) — 7KB
• wel-20240630xex32d2.htm (EX-32.2) — 7KB
• 0001410578-24-001540.txt ( ) — 4842KB
• wel-20240630.xsd (EX-101.SCH) — 46KB
• wel-20240630_cal.xml (EX-101.CAL) — 25KB
• wel-20240630_def.xml (EX-101.DEF) — 208KB
• wel-20240630_lab.xml (EX-101.LAB) — 291KB
• wel-20240630_pre.xml (EX-101.PRE) — 259KB
• wel-20240630x10q_htm.xml (XML) — 764KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Changes in Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit for the Three and Six Months Ended June 30, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (unaudited) 4 Notes to Condensed Consolidated Financial Statements (unaudited) 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures. 25

– OTHER INFORMATION

PART II – OTHER INFORMATION 27 Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 28

SIGNATURES

SIGNATURES 29 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements INTEGRATED WELLNESS ACQUISITION CORP CONDENSED CONSOLIDATED BALANCE SHEETS June 30, December 31, 2024 2023 (unaudited) ASSETS Current assets Cash $ 5,517 $ 7,567 Prepaid expenses 99,457 — Due from related party 965 — Total Current Assets 105,939 7,567 Non-current assets: Cash held in Trust Account 49,388,822 47,466,611 Total Non-current Assets 49,388,822 47,466,611 TOTAL ASSETS $ 49,494,761 $ 47,474,178 LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHAREHOLDERS' DEFICIT Current liabilities Accrued expenses $ 1,665,921 $ 1,179,943 Accounts payable 433,361 348,345 Due to related party 233,229 233,229 Due to Suntone — 556,390 Promissory note – Suntone 1,821,487 — Promissory note–related party 1,790,000 1,790,000 Total Current Liabilities 5,943,998 4,107,907 Non-current liabilities: Deferred underwriter's fee payable 4,025,000 4,025,000 Total Noncurrent Liabilities 4,025,000 4,025,000 Total Liabilities 9,968,998 8,132,907 Commitments and Contingencies (Note 5) Class A ordinary shares subject to possible redemption, $ 0.0001 par value; 4,255,117 shares issued and outstanding at redemption value 49,388,822 47,466,611 Shareholders' Deficit Preference shares, $ 0.0001 par value, 1,000,000 shares authorized; none issued and outstanding — — Class A ordinary shares subject to possible redemption, $ 0.0001 par value; 479,000,000 shares authorized; no shares issued and outstanding (excluding 4,255,117 shares subject to possible redemption) — — Class B ordinary shares, $ 0.0001 par value; 20,000,000 shares authorized; 2,875,000 shares issued and outstanding 288 288 Additional paid-in capital — — Accumulated deficit ( 9,863,347 ) ( 8,125,628 ) Total Shareholders' Deficit ( 9,863,059 ) ( 8,125,340 ) TOTAL LIABILITIES, CLASS A ORDINARY SHARES SUBJECT TO POSSIBLE REDEMPTION AND SHARE

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View this 10-Q filing on SEC EDGAR