10:41 AM EDT, 05/31/2024 (MT Newswires) -- Integrated Wellness Acquisition ( WEL ) and Btab Ecommerce Group said Friday that they have agreed to a business combination that valued Btab at $250 million.

Under the deal, a subsidiary of Integrated Wellness Acquisition ( WEL ) will merge with Btab, with the latter being the surviving entity. Integrated Wellness, a blank-check firm, will issue 25 million common shares, valued at $10 per share, to Btab shareholders as merger consideration.

The companies said they expect to close the transaction in Q4, after which Integrated Wellness Acquisition ( WEL ) will be renamed as Btab Ecommerce Holdings.

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