Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1162

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 4
Chunk 1162
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OLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

November 2024 Special Meeting

On November
12, 2024, the Company held an annual meeting of its stockholders (the “November Special Meeting”). At the November Special
Meeting, the Company’s stockholders approved two proposals to amend the Company’s Charter. The stockholders approved a proposal
to amend the Charter to allow the Company to extend the date by which the Company must consummate a business combination from November
14, 2024 to February 14, 2025. The stockholders also approved a proposal to amend the Charter to remove the net tangible asset requirement
in order to expand the methods that the Company may employ so as not to become subject to the “penny stock” rules of the SEC.
The amendment was filed with the Delaware Secretary of State and has an effective date of November 12, 2024. The stockholders also duly
elected each of the five (5) existing directors to the Company’s Board of Directors until the next annual meeting of stockholders
following this annual meeting or until each such director’s successor is elected and qualified, subject to his earlier death, resignation
or removal. In connection with the November Special Meeting, 1,721,469 shares of common stock of the Company were tendered
for redemption at a redemption price of approximately $11.15 per share for an aggregate redemption amount of $19,186,265, leaving
$1,836,208 in the Trust Account immediately after the redemptions and a tax withdrawal by the Company of $136,805. 

February 2025 Special Meeting

On February 13, 2025, the Company held a special meeting of its stockholders
(the “February Special Meeting”). In connection with the February Special Meeting, 57,821 shares of common stock of the
Company were tendered for redemption at a redemption price of approximately $11.02 per share for an aggregate redemption amount of
$636,922, leaving $1,177,889 in in the Trust Account immediately after the redemptions. A more detailed discussion of this special
meeting is included under “NOTE 10–SUBSEQUENT EVENTS”.

Franchise and Income Tax Withdrawal 

In November 2023, the Company withdrew $561,957 of
interest income earned in the Trust Account for payment of the Company’s franchise tax and income tax liabilities as permitted by
the