Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 5

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 5
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 of BLAC Common Stock. If 164,752 public shares of BLAC Common Stock are redeemed for cash, which assumes 100% of public shares of BLAC Common Stock are redeemed, and an aggregate of 14,676,728shares of BLAC Common Stock (or 60% of the Aggregate Consideration issuable by BLAC pursuant to the Business Combination Agreement) is issued to the Participating Company Stockholders at consummation of the Business Combination, BLAC’s existing stockholders will hold in the aggregate approximately 16.36% of BLAC Common Stock (3.91% held by our public stockholders and 12.45% held by the Sponsor, the officers and directors of BLAC, their respective affiliates and Chardan Capital Markets, LLC) and OSR Holdings Stockholders will hold approximately 83.10% of BLAC Common Stock. These ownership percentages take into account the conversion of all BLAC rights. These ownership percentages do not take into account (1) any warrants to purchase BLAC Common Stock as the warrants do not become exercisable until 30 days after the consummation of the Business Combination, or (2) any equity awards that may be issued following the Business Combination under the Company’s proposed 2025 Omnibus Incentive Plan (the “ Omnibus Plan”). See “ Questions and Answers — What equity stake will current BLAC stockholders and current OSR Holdings stockholders hold in BLAC immediately after the consummation of the Business Combination?” for additional information. After the completion of the Business Combination, Mr. Kuk Hyoun Hwang, a director and Chief Executive Officer of BLAC, and former Chief Executive Officer (from July 2019 until August 2021 and from December 2022 to August 2024) and Chairman of the Board (since July 2019) of OSR Holdings, will control a majority of the voting power for the election of directors of New OSR Holdings, the post -combination company, by his ownership of approximately 73.33% (assuming that none of BLAC’s public stockholders exercise redemption rights), 73.67% (assuming that 50% of BLAC’s public stockholders exercise redemption rights) or 74.02% (assuming that all of BLAC’s public stockholders exercise redemption rights) of the outstanding shares of New OSR Holdings common stock. As a result, New OSR Holdings will be a “controlled company” within the meaning of the rules of The Nas