Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 256

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 256
---
, 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 a pipeline of spinal fusion and cartilage regenerative therapies in March 2023. Because of the several and varied transactions OSR Holdings conducted, OSR Holdings was well -positionedto be taken public on KOSDAQ beginning February 2023 independent of engaging with BLAC. However, with the potential to combine with BLAC as an alternative route of going public, on February 20, 2023, Mr. Hwang requested that OSR Holdings’ management carefully consider a business combination with BLAC as an alternative way of taking OSR Holdings public, and on NASDAQ rather than KOSDAQ. OSR Holdings had not considered entering into a business combination with a shell corporation prior to BLAC’s IPO. March 20, 2023 On March 20, 2023, while Mr. Hwang was traveling in