Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 322

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 322
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 Note Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy action. The funds are to be used by OSR Holdings for working capital and other expenses of OSR Holdings; and •the fact that BLAC may be entitled to distribute or pay over funds held by BLAC outside the Trust Account to the Sponsor or any of its affiliates prior to the Closing. 191 BLAC’s M&A Committee, consisting of independent directors, reviewed and considered these interests during their evaluation of the Business Combination and in unanimously approving and recommending that the full Board approve the Business Combination Agreement and the transactions contemplated therein, including the Business Combination. The BLAC M&A Committee gave special consideration to the fact that Mr. Hwang, Mr. Whang, and certain affiliates of the Sponsor, have a financial interest in OSR Holdings, as well as the fact that Mr. Hwang is the President, CEO, and a director of both BLAC and OSR Holdings. In making their respective determinations, the BLAC M&A Committee and the BLAC Board weighed the foregoing conflicts of interest against the fact that the Business Combination and the Business Combination Agreement were negotiated at arms -lengthand the independent BLAC M&A Committee had full control over such negotiations, reducing the conflicted individuals’ respective influence over the Business Combination and the Business Combination Agreement, and the BLAC Board and BLAC M&A Committee ultimately concluded that the potential benefits that it expected BLAC and its stockholders to achieve as a result of the Business Combination outweighed the potentially negative factors associated with the Business Combination, including the potentially negative factors associated with the conflicts of interest presented by Mr. Hwang, Mr. Whang, and other affiliates. Accordingly, the board unanimously determined that the Business Combination Agreement and the transactions contemplated thereby, including the Business Combination, were advisable, fair to, and in the best interests of BLAC’s stockholders. Potential Actions to Secure Requisite Stockholder Approvals Potential Purchases of Public Shares At any time prior to the BLAC Stockholders’ Meeting, during a period when they are not then aware of any material nonpublic information regarding BLAC or BLAC’s securities, BLAC’s Sponsor, directors, officers and their respective affiliates may purchase BLAC’s securities on the open market, and may enter into agreements to purchase shares from institutional and other investors who vote, or indicate an intention to vote, against the Business Combination Proposal, or who have demanded that BLAC redeem, or indicate an intention to demand that BLAC redeem, their public shares