Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 258

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 258
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 a target company with which to conduct a business combination, BLAC would also simultaneously pursue the possibility of conducting a business combination with OSR Holdings. This was discussed in the context of OSR Holdings’ historical plans from early 2020 for OSR Holdings to lead an effort to take Vaximm AG, a Swiss biotech company, public on the Korean stock exchange (KOSDAQ) by engaging a major Korean investment bank (Brokerage “S”) for which Mr. Hwang himself previously worked. As CEO of OSR Holdings, Mr. Hwang was actively involved in all aspects of discussions and decisions regarding such historical plans. In line with those plans, OSR Holdings’ Swiss affiliate, BCME, had made a minority investment in Vaximm in early 2020. Also in line with those plans, on December 29, 2020, OSR Holdings had officially retained Brokerage S to be lead underwriter for the KOSDAQ IPO process. A Lead Manager Agreement was executed with Brokerage S for the purpose of taking Vaximm public via a traditional initial public offering on KOSDAQ and not by means of any transaction with a shell company on KOSDAQ (or elsewhere). As the engagement with Brokerage S was formalized and plans were taking shape in preparation for taking Vaximm AG public on KOSDAQ, in early 2022, OSR Holdings considered and ultimately modified its original plans of being a financial advisor and investor for its affiliates to becoming a biotech holding company that could itself list on KOSDAQ, with Vaximm as its lead biotech subsidiary. To that end, in December 2022, OSR Holdings acquired approximately 92% of Vaximm from its Swiss affiliate BCME. By the end of January 2023, OSR Holdings acquired all of the remaining shares of Vaximm from BCME, resulting in Vaximm becoming a wholly owned subsidiary of OSR Holdings. Additionally, on December 31, 2022, OSR Holdings completed its acquisition of RMC, a medical device supply distribution company based in Korea, for its high growth and profitability, but also because RMC’s revenue stream would allow OSR Holdings to meet the Korean regulatory requirement for listing on KOSDAQ of a minimum revenue amount three years post -IPO. To continue building OSR Holdings as a biotech holding company in preparation for listing on KOSDAQ, OSR Holdings completed its acquisition of Darnatein, a Korean biotherapeutic company developing