Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 501

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1A
Chunk 501
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 the outstanding balance
was $300,000.

Promissory Notes 

The Sponsor has advanced
funds to the Company for the payment of expenses incurred in connection with the Initial Public Offering, which amount is evidenced by non-interest-bearing promissory
notes in the aggregate principal amount of $1,200,000. The promissory notes were due at the earlier of November 29, 2023 or
upon the closing of the Initial Public Offering. These notes were discharged and cancelled in connection with the private placement that
closed simultaneously with the Initial Public Offering.

On June 23, 2023,
the Sponsor loaned to the Company $200,000 to fund working capital requirements and in exchange therefor the Company issued to the
Sponsor an unsecured promissory note in the principal amount of $200,000. This note is non-interest bearing and is payable in
full on the earlier of (i) December 31, 2024 or (ii) the date on which the Company consummates an initial Business Combination.
In the event that the Company does not consummate an initial Business Combination, the note will be repaid only from amounts remaining
outside of the Company’s Trust Account, if any. At the Sponsor’s discretion, the principal balance of the note may be converted
at any time prior to the consummation of the Business Combination as of December 31, 2024 and 2023, the outstanding balance of this note
was $0.

On November 13,
2023, Bellevue Capital Management LLC (“BCM”) loaned to the Company $180,000 and in exchange therefor the Company issued
to BCM an unsecured promissory note in the principal amount of $180,000. The proceeds of this loan were used to fund the payment to extend
the date by which the Company must consummate an initial Business Combination to February 14, 2024. The note is non-interest bearing
and is payable in full on the earlier of (i) December 31, 2024 or (ii) the date on which the Company consummates an initial
Business Combination. In the event that the Company does not consummate the Business Combination, this note will be repaid only from amounts
remaining outside of the Company’s Trust Account, if any. As of December 31, 2024 and 2023, the outstanding balance of this note
was $