Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 447

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1A
Chunk 447
---
 were used to fund our Sponsor’s purchase of the Private Placement Units. The BCM Europe Note
is convertible at the election of either our Sponsor or BCM Europe into (i) 310,000 Units identical to the Private Placement Units held
by our Sponsor, (ii) 370,000 founder shares held by our Sponsor, and (iii) 60,000 warrants held by our Sponsor. The BCM Europe Note was
amended on March 27, 2024 to extend the maturity date to the earlier of (i) December 31, 2024 or (ii) the date on
which the Company consummates a Business Combination. Additionally, on February 2, 2023, our Sponsor entered into a promissory note
with BCM Europe in the principal amount of $2,000,000 with a maturity date of February 2, 2024 (the “BCM Europe Note 2023”).
The proceeds of the BCM Europe Note 2023 will be used, if necessary, to fund expenses in connection with our initial business combination.
The BCM Europe Note 2023 is not convertible into any BLAC securities held by our Sponsor. The BCM Europe Note 2023 was amended on April
12, 2024 to extend the maturity date to the earlier of (i) December 31, 2024 or (ii) the date on which the Company consummates
a Business Combination. As of the date of the filing of this Annual Report on Form 10-K, the outstanding balance of the BCM Europe Note
and the BCM Europe Note 2023 is $4,700,000.

Our Sponsor had loaned to us $1,200,000 under promissory notes which
was used to pay a portion of the expenses of our IPO. These loans were non-interest bearing, unsecured and were due at the earlier of
November 29, 2023 or the closing of our IPO. At the closing of our IPO, the promissory notes were deemed to be repaid and settled
in connection with the private placement.

We may pay BCM and/or any of its affiliates, partners or employees
a fee for financial advisory services rendered in connection with our identification, negotiation and consummation of our initial business
combination. The amount of any fee we pay to BCM and/or any of its affiliates, partners or employees will be based upon the prevailing
market for similar services for such transactions at such time, and will be subject to the