Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 406

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1A
Chunk 406
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22% of the outstanding OSR Common Stock will continue to hold their shares
of OSR Common Stock subject to the terms of the Non-Participating Joinders which contain put and call rights whereby the Non-Participating Stockholders
shall have the right to cause the Company to purchase (the “Put Right”) and the Company shall have the right to cause
the Non-Participating Stockholders to sell to the Company or its designee (the “Call Right”) all of the shares
of OSR Common Stock owned and held of record by such Non-Participating Stockholder. These rights become exercisable on or after the
earlier of (i) January 1, 2026, or (ii) the date that the Non-Participating Stockholder is notified by the Company
of a transaction that will result in a change in control (as defined in the Non-Participating Joinder) of the Company (the “Trigger
Date”). The Put Right and Call Right terminate and expire 120 days after the Trigger Date. The exchange ratio is fixed
under the put/call rights at the same exchange ratio set forth in the Business Combination Agreement, and there is no option for cash
settlement. Holders of approximately 11% of the outstanding OSR Common Stock did not sign a Joinder and will continue to hold their shares
of OSR Common Stock, and such shares will not be subject to any contractual put or call rights, or other conversion rights, with or into
Company Common Stock.

As of the Closing Date, Kuk Hyoun Hwang beneficially held approximately
67.8% of the outstanding shares of the Company Common Stock.

Prior to the Closing Date, the Company entered into participating joinders
(the “Participating Joinders”) with the Participating Stockholders, pursuant to which the Company issued an aggregate
of 16,282,047 shares of Company Common Stock to the Participating Stockholders in exchange for an aggregate of 1,256,085 shares of OSR
Common Stock, or approximately 67% of the outstanding shares of OSR Common Stock. Pursuant to the Participating Joinders, the Participating
Stockholders became party to the Business Combination Agreement with all attendant rights, duties and obligations (including in respect
of all of the representations, warranties, covenants, agreements and conditions of the Business Combination Agreement), with the same
force and effect as if