Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 110

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 110
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 on the price of New OSR Holdings securities. BLAC’s Current Charter contains a waiver of corporate opportunities. Article X of the Current Charter provides that the doctrine of corporate opportunity, or any other analogous doctrine, shall not apply with respect to BLAC or any of its officers or directors in circumstances where the application of any such doctrine would conflict with any fiduciary duties or contractual obligations they may have as of the date of the Current Charter or in the future. Article X of the Current Charter also provides that, in addition to the foregoing, the doctrine of corporate opportunity shall not apply to any other corporate opportunity with respect to any of the directors or officers of BLAC unless such corporate opportunity is offered to such person solely in his or her capacity as a director or officer of BLAC and such opportunity is one BLAC is legally and contractually permitted to undertake and would otherwise be reasonable for BLAC to pursue. There could have been business 54 combination targets that have been appropriate for an initial business combination with BLAC but were not offered due to a BLAC director’s or officer’s concurrent capacity as a director or officer of another entity. BLAC and its management are not aware of any such corporate opportunities not offered to BLAC and do not believe that the waiver of the corporate opportunity doctrine in the Current Charter interfered with BLAC’s ability to identify an acquisition target, including the decision to pursue the Business Combination with OSR Holdings. BLAC’s directors and officers will have discretion on whether to agree to changes in the terms of, or waivers of closing conditions to, the Business Combination and their interests in exercising that discretion may conflict with those of BLAC’s stockholders. In the period leading up to the consummation of the Business Combination, events may occur that, pursuant to the Business Combination Agreement, would require BLAC to agree to amend the Business Combination Agreement, to consent to certain actions taken by OSR Holdings or to waive rights that BLAC is entitled to under the Business Combination Agreement, including rights or closing conditions favorable to BLAC and its stockholders. Such events could arise because of changes in the course of OSR Holdings’ business, a request by OSR Holdings to undertake actions that would otherwise be prohibited by the terms of the Business Combination Agreement or the occurrence of other events that would have a material adverse effect on OSR Holdings’ business and would entitle BLAC to terminate the Business Combination Agreement. In any of such circumstances, it would be at BLAC’s discretion, acting through its board of directors, to grant