Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 278

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 278
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 of OSR Holdings and BLAC participated in numerous in -depthmeetings, diligence calls and virtual meetings that covered all aspects of business, financial and technical due diligence, including a detailed review of OSR Holdings’ business plan, financial model, growth strategy, target markets, intellectual property, and capital structure. The BLAC M&A Committee also acknowledged that representatives of BLAC had numerous discussions with Potential Targets, other than OSR Holdings, regarding the possibility of a Business Combination between BLAC and/or OSR Holdings, and none of such other Potential Targets were willing to engage in negotiations for a potential Business Combination solely with BLAC due to concerns over redemptions and BLAC’s lack of commitments for a PIPE Transaction. The BLAC M&A Committee acknowledged that certain of the directors and officers of BLAC are affiliates of OSR Holdings and have interests in the potential Business Combination with OSR Holdings and the transactions contemplated thereby which are different from those of BLAC’s stockholders generally. Pursuant to BLAC’s Amended and Restated Certificate of Incorporation, BLAC may not consummate any Business Combination with an entity that is affiliated with any of BLAC’s officers, directors or sponsor unless BLAC has obtained an opinion from an independent investment banking firm or another independent entity that such Business Combination is fair to BLAC from a financial point of view and a majority of the BLAC’s disinterested directors approve the Business Combination. The BLAC M&A Committee noted that it has previously met and considered qualifications of the (now prior) fairness opinion provider and determined that it meets the requirements of BLAC’s Amended and Restated Certificate of Incorporation to render the Fairness Opinion relating to the Business Combination. The BLAC M&A Committee also ratified and approved the engagement letter with the qualified financial advisory firm to render a Fairness Opinion as a condition to closing of the Business Combination. 163 The BLAC M&A Committee, consisting of independent directors that have no material interest in the proposed Business Combination with OSR Holdings, was established to consider the feasibility and terms of a Business Combination, including consideration by the BLAC M&A Committee of the fairness of any such Business Combination as well as an evaluation of any interested director transaction, and any other factors the BLAC M&A Committee deems appropriate, and to recommend to the entire BLAC Board whether or not any such Business Combination is in the best interests of BLAC and its stockholders. The BLAC M&A Committee noted that the terms of the Business Combination Agreement are the result of extensive negotiations