Btab Ecommerce Group (OTC: BBTT), a dynamic e-commerce support company, announces its Business Combination Agreement (“BCA”) with Integrated Wellness Acquisition (NYSE: WEL) (“WEL” or “Integrated Wellness”), a special purpose acquisition company. This pivotal agreement signifies a major milestone in Btab’s growth trajectory.
Key Highlights:
- The transaction is set to close by the end of Q4 2024
- The BCA values Btab at an equity value of $250 million
- Integrated Wellness will issue 25 million shares of its common stock valued at $10 per share
Strategic Implications:
For Btab, this agreement is a strategic step towards expanding its global reach and enhancing its mission to support small businesses worldwide. The e-commerce market is projected to reach $18.81 trillion by 2029, presenting significant opportunities for growth, especially in underserved markets.
Leadership Insights:
Binson Lau, CEO of Btab, stated, “With the global e-commerce market projected to reach $18.81 trillion by 2029, we aim to capitalize on this growth, particularly in underserved markets where small businesses are eager to establish an online presence.”
Btab’s Value Proposition:
Btab is dedicated to providing comprehensive e-commerce solutions tailored to the needs of small business owners. Its platforms, including Btab Commerce and Marketplace Deals, empower entrepreneurs to focus on growth without the complexities of e-commerce operations. This agreement underscores Btab’s commitment to addressing the unmet needs of the market.
Global Expansion:
“This move underscores our commitment to expanding our reach and providing greater support to small businesses worldwide, from our headquarters in Australia to key markets including the United States, United Kingdom, and Asia,” added Mr. Lau (https://ibn.fm/mT5T7).
Transaction Details:
Under the BCA, a wholly-owned subsidiary of WEL will merge with and into Btab, resulting in Btab becoming a wholly-owned subsidiary of WEL. This merger provides WEL an opportunity for growth and access to Btab’s expanding market share and potential.
Suren Ajjarapu, CEO of WEL, remarked, “It is gratifying to work with Mr. Lau to accelerate BBTT’s growth strategy. This transaction offers our WEL investors a chance to participate in BBTT’s anticipated growth. We look forward to closing the business combination agreement.”
For more information, visit the company’s website at www.BtabCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to BBTT are available in the company’s newsroom at https://ibn.fm/BBTT
