Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 503

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 503
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2023 is $4,700,000. The Sponsor had loaned to BLAC $1,200,000 under promissory notes which was used to pay a portion of the expenses of BLAC’s IPO. These loans were non -interestbearing, unsecured and were due at the earlier of November 29, 2023 or the closing of BLAC’s IPO. At the closing of BLAC’s IPO, the promissory notes were deemed to be repaid and settled in connection with the private placement. Related Party Loans In order to finance transaction costs in connection with an initial business combination, the Sponsor or an affiliate of the Sponsor, or certain of BLAC’s officers and directors have made and may, but are not obligated to, make Working Capital Loans. If BLAC completes an initial business combination, BLAC would repay the Working 318 Capital Loans out of the Trust Account released to BLAC. In the event that an initial business combination does not close, BLAC may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. The Working Capital Loans would either be repaid upon consummation of an initial business combination, without interest, or, at the lender’s discretion, up to $1,000,000 of such Working Capital Loans may be convertible into Units at a price of $10.00 per Unit. The Units would be identical to the Private Placement Units. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. Loans made by Chardan or any of its related persons, if any, will not be convertible into any of BLAC’s securities, and Chardan and its related persons will have no recourse with respect to their ability to convert their loans into any of BLAC’s securities. As of the date of the proxy statement/prospectus, no Working Capital Loans were outstanding. On June 23, 2023, BLAC issued an unsecured promissory note (the “ June 2023 Note”) in the principal amount of $200,000 to the Sponsor to fund working capital requirements. The June 2023 Note is not interest bearing and is payable in full on the earlier of: (i) December 31, 2024 or (ii) the date on which BLAC consummates an initial business combination (the “June