Integrated Wellness Acquisition in a filing included the merger agreement signed with Btab Ecommerce Group. The transaction values Btab at an equity value of $250 million.
Terms call for the SPAC to issue 25 million shares at $10 each to Btab shareholders as merger consideration, in exchange for all of the issued and outstanding shares of the target’s stock. The parties expect the transaction will close by the end of the fourth quarter.
The companies signed a letter of intent in February for a potential deal.
If approved, the merged enterprise will be renamed Btab Ecommerce Holdings and is expected to list on the NYSE.
BTAB is an e-commerce company that operates through its network in Australia, Asia, United States and United Kingdom, and its affiliated company is the Btab Group. Read more.
Source: Integrated Wellness Files Merger Agreement on 0M Btab Deal