Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 90

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 90
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 are the largest single owner of shares of OSR Holdings, and will also be the largest single owner of shares in the Combined Company in each of the no redemption, 50% redemption, and maximum redemption scenarios. The stockholders of OSR Holdings will have sufficient voting power to elect or remove a majority of the board of directors of the Combined Company. The compositions of the governing body and senior management team of the combined entity present a less defined indicator as Kuk Hyoun Hwang is an officer and director of BLAC and a director and former officer of OSR Holdings. No other officers of BLAC will be officers of the Combined Company. The composition of New OSR Holdings is being negotiated by Kuk Hyoun Hwang who represents both BLAC and OSR Holdings so that it is difficult to conclude that one party controls the appointment of the directors of the Combined Company. Accordingly, given the supermajority of voting shares to be held by OSR Holdings stockholders in the Combined Company and the other factors described above, for accounting purposes, the Business Combination will be treated as the equivalent of a capital transaction in which BLAC is issuing securities for the net assets of OSR Holdings. Operations prior to the Business Combination will be those of OSR Holdings. Regulatory Matters Other than as described immediately below, neither of BLAC and OSR Holdings is aware of any material regulatory approvals or actions that are required for completion of the Business Combination. It is presently contemplated that if any regulatory approvals or actions are required, those approvals or actions will be sought. There can be no assurance, however, that any additional approvals or actions will be obtained. Because BLAC’s Sponsor is controlled by and has substantial ties with non -U.S. persons, and will own approximately 11.6% of the issued and outstanding shares of New OSR Holdings Common Stock following the Business Combination (assuming that all of BLAC’s public stockholders exercise redemption rights), we may be considered a “foreign person” under rules promulgated by the Committee on Foreign Investment in the United States (“CFIUS”), and the Business Combination may fall within the scope of a “covered transaction” subject to CFIUS review. See “ Risk Factors— Risks Related to the Business Combination and Business Combination Agreement— We may not be able to complete an initial business combination with a U.S. target company since such initial business combination may be subject to U.S. foreign investment regulations and review by a U.S. government entity such as CFIUS, and ultimately prohibited.” Material