Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 498

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 498
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, which consisted of income from investments held in the Trust Account of $1,846,529, offset by general and administrative expenses of $968,806 and provision for income taxes of $387,771. Liquidity, Capital Resources and Going Concern Consideration BLAC’s liquidity needs had been satisfied prior to the completion of its IPO through a capital contribution from its Sponsor of $25,000 for the founder shares and an aggregate of $1,498,000 in loans from its Sponsor under unsecured promissory notes. Upon the closing of BLAC’s IPO, the promissory notes were be deemed to be repaid and settled in connection with the private placement. Further, BLAC has incurred and expect to continue to incur significant costs in pursuit of its financing and acquisition plans. The net proceeds from (i) the sale of the Units in BLAC’s IPO (including the Units sold in the exercise of the Over -AllotmentOption), after deducting offering expenses of approximately $1,310,000, underwriting commissions of $1,380,000 and excluding deferred underwriting commissions of $2,070,000, and (ii) the sale of the Private Placement Units for an aggregate purchase price of $4,300,000 was $70,610,000. Of this amount, $70,207,500 was placed in the Trust Account, including $2,070,000 of deferred underwriting commissions. The proceeds held in the Trust Account was invested only in U.S. government treasury obligations with a maturity of 185 days or less 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 $1,853,424. 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,