Company: OSRH
Filing Date: 2025-05-28
Form Type: S-1
Source: 0001213900-25-048346
Chunk: 36

Company: OSR Holdings, Inc.
Filing Date: 2025-05-28
Form: S-1
Chunk 36
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 held on October 1, 2024. On October 4, 2024, the Panel granted the Company’s request for continued listing on the Nasdaq, subject to the requirement that on or before February 17, 2025, the Company shall demonstrate compliance with Listing Rule 5505, and that during the exception period, the Company shall provide prompt notification of any significant events that occur during this time that may affect the Company’s compliance with Nasdaq requirements. On March 7, 2025, the Hearings Advisor from the Nasdaq Office of General Counsel sent a letter noting that on February 13, 2025, the Company had completed its Business Combination and finding that "[t]he post transaction entity demonstrated compliance with the requirements for initial listing under Listing Rule 5505 and the securities of OSRH began trading on the Nasdaq Capital Market February 18, 2025. ... [a]ccordingly, the Panel has determined to continue the listing of the Company's securities on The Nasdaq Stock Market LLC and is closing this matter." However, this is no guaranty that the Company will be able to maintain compliance with Nasdaq continued listing standards going forward. The Company is a controlled company within the meaning of the Nasdaq Listing Rules and, as a result, will qualify for, and may rely on, exemptions from certain corporate governance requirements. Stockholders of the Company may not have the same protection afforded to stockholders of companies that are subject to such governance requirements. Kuk Hyoun Hwang, the Company’s Chief Executive Officer controls a majority of the voting power of the outstanding shares of the Company Common Stock. As a result, the Company is a “controlled company” within the meaning of the corporate governance standards of Nasdaq. Under these corporate governance standards, a company of which more than 50% of the voting power for the election of directors is held by an individual, group or another company is a “controlled company” and may elect not to comply with certain corporate governance requirements. For example, controlled companies:

| ● | are not required to have a board that is composed of a majority of “independent directors” 
 as defined under the Nasdaq listing rules;                                                 |

| ● | are not required to have a compensation committee that is composed entirely of independent directors 
 or have a written charter addressing the committee’s purpose and responsibilities; and               |

| ● | are not required to have director nominations be made, or recommended to the full board of directors,                                  
 by its