Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 68

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 68
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 BLAC a properly executed certification that shares of OSR Holdings Common Stock are not “U.S. real property interests” in accordance with the Treasury Regulations under Sections 897 and 1445 of the Code, together with a notice to the IRS in accordance with the provisions of Section 1.897 -2(h)(2) of the Treasury Regulations; and (xii) customary bringdown conditions. Additionally, the obligations of OSR Holdings and the OSR Holdings Stockholders to consummate the Transactions are conditioned upon, among other things, a minimum available cash condition such that the (a) amount of cash and cash equivalents available in the Trust Account immediately prior to the Closing, plus (b) all other cash and cash equivalents of BLAC, plus (c) the aggregate amount of cash proceeds received from the PIPE Financing prior to or substantially concurrently with the Closing (without, for the avoidance of doubt, taking into consideration any transaction fees, costs and expenses paid or required to be paid by BLAC prior to the Closing), shall be equal to or greater than $5,000,001 (the “ Minimum Available Cash Condition”). As of the date of the filing of the proxy statement/prospectus, BLAC does not expect to meet the Minimum Available Cash Condition and, as a result, OSR Holdings has indicated it will waive this condition to closing of the Business Combination. See the section titled “ The Business Combination Agreement — General — Conditions to Closing the Business Combination.” Waiver Any party to the Business Combination Agreement may, at any time prior to the Closing, by action taken by its board of directors or equivalent governing body, officers thereunto duly authorized, or individually in the case of independent stockholders, waive in writing any of its or their rights or conditions in its or their favor under the Business Combination Agreement. The existence of the financial and personal interests of the directors may result in a conflict of interest on the part of one or more of them between what such director may believe is best for BLAC and what such director may believe is best for such director in determining whether or not to grant a waiver in a specific situation. Exclusivity The Business Combination Agreement contains exclusivity provisions restricting the parties from engaging in any Alternative Transaction (as defined below) for a period ending on the earlier of (i) the Closing and/or (ii) the termination of the Business Combination Agreement. An “ Alternative Transaction” includes (A) any sale of assets of OSR Holdings equal to 5% or more of OSR Holdings’ assets or