Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 66

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 66
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 option for cash settlement. Pursuant to the Share Exchange: (i) the Participating Company Stockholders shall transfer and convey all of the shares of OSR Holdings Common Stock held by the Participating Company Stockholders to BLAC, in each case, free and clear of any claims or interest of any person previously entitled thereto; (ii) BLAC shall effect the transfer and conveyance of all of the shares of BLAC Common Stock representing the Aggregate Participating Consideration to the Participating Company Stockholders, in each case, free and clear of any claims or interest of any person previously entitled thereto; (iii) any fractional share of BLAC Common Stock that would otherwise be issuable to a Participating Company Stockholder following such exchange shall be rounded up or down to the nearest whole share of BLAC Common Stock; and (iv) all OSR Holdings Common Stock held by Non -ParticipatingCompany Stockholders will not be exchanged for shares of BLAC Common Stock at Closing, and such OSR Holdings Common Stock will be subject to the terms of the Non -ParticipatingStockholder Joinder, including the Put Right and Call Right set forth therein. Some officers and directors of BLAC, including Mr. Kuk Hyoun Hwang, have interests in the Business Combination as individuals that are in addition to, and that may be different from, the interests of BLAC stockholders. Mr. Hwang is the Chief Executive Officer and a member of the BLAC Board and was previously Chief Executive Officer and is currently Chairman of the Board of OSR Holdings. The BLAC Board formed a separate committee (the “ M&A Committee”), consisting of three independent directors, Steven Reed, Radclyffe Roberts and Jin Whan Park, to review and consider these interests during the negotiation of the Business Combination Agreement and in evaluating and unanimously approving, as members of the BLAC Board, the Business Combination Agreement. After the departure of Dr. Reed and Dr. Roberts from the BLAC Board, Phil Geon Lee and Sang Hyun Kim joined the BLAC Board and the M&A Committee. Closing In accordance with (i) the terms and subject to the conditions of the Business Combination Agreement, and (ii) the consummation of the PIPE Financing, the Closing shall take place by electronic delivery of documents (by PDF (portable document format) and/or electronic mail), all of which will be deemed to be originals, at a time to be agreed by the parties to the Business Combination Agreement on the first date on which