Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1390

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 6
Chunk 1390
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 the Company must consummate a business
combination from February 14, 2024 to March 14, 2024.

The Jun Chul Whang Promissory
Note is not interest bearing and is payable in full on the earlier of: (i) August 9, 2024 or (ii) the date on which the
Company consummates an initial business combination. In the event that the Company does not consummate a business combination on or prior
to the time provided in the Company’s Amended and Restated Certificate of Incorporation (as subject to extension), Mr. Whang agrees
to forgive the principal balance of the Jun Chul Whang Promissory Note, except to the extent of any funds remaining outside of the Company’s
trust account, if any. The following shall constitute an event of default: (i) a failure to pay the principal within five business days
of the maturity date and (ii) the commencement of a voluntary or involuntary bankruptcy action. The foregoing description of the Jun Chul
Whang Promissory Note is qualified in its entirety by reference to the full text of the note, a copy of which is filed as Exhibit 10.1
to the February 9, 2024 Form 8-K and incorporated herein by reference.

As previously reported by the Company on its Current Report Form 8-K
filed on March 13, 2024, on March 8, 2024 the Company issued an unsecured promissory note in the principal amount of $60,000 to Josh
Pan, an individual member of Bellevue Capital Management, LLC, which wholly owns Bellevue Global Life Sciences Investors, LLC, the sponsor
of the Company (the “Pan Promissory Note”).

On March 12, 2024, $60,000 was deposited in the trust account in connection
with the extension of the date by which the Company must consummate a business combination from March 14, 2024 to April 15, 2024.

The Pan Promissory Note is not interest bearing and is payable
in full on the earlier of: (i) August 8, 2024 or (ii) the date on which the Company consummates an initial business combination.
In the event that the Company does not consummate a business combination on or prior to the time provided in the Company’s Amended
and Restated Certificate of Incorporation (as subject to