Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 246

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1
Chunk 246
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 waiver is enforceable) nor will it apply to any
claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities
under the Securities Act of 1933, as amended (the “Securities Act”). Moreover, in the event that an executed waiver is deemed
to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third party claims.
The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by
endeavoring to have all vendors, service providers (except for the Company’s independent registered public accounting firm), prospective
partner businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title,
interest or claim of any kind in or to monies held in the Trust Account.

Extension of Termination Date and Redemptions from the Trust Account

November 2023 Special Meeting

On November 9, 2023,
the Company held a special meeting of its stockholders (the “Special Meeting”). At the Special Meeting, the Company’s
stockholders approved an extension of the date by which the Company must consummate a business combination from November 14, 2023
to February 14, 2024 and approved a proposal to give the Board of Directors (the “Board”) the authority in its discretion
to amend the Charter to extend the date by which the Company must consummate a business combination from February 14, 2024 to May 14,
2024. In connection with the Special Meeting, 3,432,046 shares of common stock of the Company were tendered for redemption at
a redemption price of approximately $10.49 per share for an aggregate redemption amount of $35,995,728, leaving $36,372,335 in
the Trust Account immediately after the redemptions and a tax withdrawal by the Company of $561,957. Additionally, the Company deposited
$180,000 into the Trust Account on November 13, 2023 in connection with the extension of the date by which the Company must
consummate a business combination from November 14, 2023 to February 14, 2024.

In February 2024, the
Board authorized and approved a second Certificate of Amendment to the Charter. The second Certificate of Amendment to the Charter was
filed with the Delaware Secretary of