Integrated Wellness is a special purpose acquisition company, or SPAC, formed to merge with a private business to take it public. The company has no current operations, products, or revenue. Integrated Wellness is pursuing a merger with Btab, a Georgia-based e-commerce company. The deal values Btab at $250M and will be paid entirely in stock, after which the combined company will be renamed Btab Ecommerce Holdings. Btab's CEO also serves as the Chairman of Integrated Wellness, and the proposed merger gives him disproportionate voting control through a dual-class share structure. The business model depends on completing this combination by its September 16, 2026 deadline. If Integrated Wellness fails to close a deal, it must liquidate and return trust funds to shareholders. While the company raised $115M in its 2021 IPO, significant redemptions have reduced available trust funds to approximately $15.3M. Sponsors hold founder shares that only provide value if a merger occurs, while public investors can redeem their shares for their portion of the trust instead of holding equity in the new company. The company funds its operations through administrative fees and interest from its trust account. Integrated Wellness competes with other SPACs and private equity firms to acquire private companies, though its small remaining cash balance limits its ability to offer cash consideration to merger targets.