Btab Ecommerce Group and Integrated Wellness Acquisition today announced that they have signed a definitive business combination agreement. If approved, the merged enterprise will be renamed Btab Ecommerce Holdings and is expected to list on the NYSE. 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.
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 e-commerce company, Btab Group. Read more.
