Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 497

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 497
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 or in money market funds meeting certain conditions under Rule 2a -7under the Investment Company Act which invest only in direct U.S. government treasury obligations. In connection with the November 2023 Special Meeting, the May Special Meeting and the BLAC Annual Meeting, $35,995,728, $17,045,763, and $19,186,266, respectively, of redemptions from the Trust Account were made leaving $1,836,208 in the Trust Account following the BLAC Annual Meeting. As of the date of this proxy statement/prospectus, the amount of funds currently held in the Trust Account is approximately $[•]. BLAC intends to use substantially all of the funds held in the Trust Account, including any amounts representing interest earned on the Trust Account (less deferred underwriting commissions), to complete the Business Combination. BLAC may withdraw interest to pay taxes. BLAC estimates its annual franchise tax obligations, based on the number of authorized shares of BLAC common stock, to be $200,000, which is the maximum amount of annual franchise taxes payable by BLAC as a Delaware corporation per annum, which BLAC may pay from funds held outside of the Trust Account or from interest earned on the funds held in our Trust Account and released to BLAC for this purpose. BLAC’s annual income tax obligations will depend on the amount of interest and other income earned on the amounts held in the Trust Account. BLAC expects the interest earned on the amount in the Trust Account will be sufficient to pay its income taxes. To the extent that BLAC capital stock or debt is used, in whole or in part, as consideration to complete its initial business combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies. As of September 30, 2024, BLAC had $12,236 in its operating bank account and a working capital deficit of $3,901,465. BLAC’s liquidity needs prior to the consummation of its IPO had been satisfied through proceeds from advances from related party and from the issuance of common stock. Subsequent to the consummation of BLAC’s IPO, BLAC’s liquidity was satisfied through the net proceeds from the consummation of the IPO, the proceeds from the Private Placement Units held outside of the Trust Account and loans from the Sponsor, officers and directors and their affiliates. In order to fund working capital requirements or finance transaction costs