Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 77

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 77
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 business combination, these individuals may be reimbursed for any out-of-pocket expenses incurred in connection with activities on BLAC’s behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. As of the date of this proxy statement/prospectus, there are no outstanding out-of-pocket expenses for which the Sponsor or BLAC’s officers or directors are awaiting reimbursement; •the fact that if the Trust Account is liquidated, including in the event BLAC is unable to complete an initial business combination by February14, 2025 (unless such date is extended in accordance with the Existing Governing Documents), the Sponsor has agreed to indemnify BLAC to ensure that the proceeds in the Trust Account are not reduced below $10.175 per public share, or such lesser per public share amount as is in the Tust Account on the liquidation of the Trust Account, by the claims of prospective target businesses with which BLAC has entered into an acquisition agreement or claims of any third party for services rendered or products sold to BLAC, but only if such a vendor or target business has not executed a waiver of any and all rights to seek access to the Trust Account; •the fact that director Jun Chul Whang has loaned an aggregate of $115,000 to BLAC for working capital purposes, of which $75,000 remains outstanding; •the fact that BLAC advanced a loan to OSR Holdings in the amount of $300,000 evidenced by a promissory note (the “OSR Holdings Promissory Note”) that bears interest at a rate of 3.96% per annum, compound semi -annually, and is due on October25, 2025 (the “OSR Note Maturity Date”). Interest is payable only on maturity. The following events constitute an event of default under the OSR Holdings Promissory Note: (i) a failure to pay the outstanding balance due within five (5) business days of the OSR Note Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy action. The funds are to be used by OSR Holdings for working capital and other expenses of OSR Holdings; and •the fact that BLAC may be entitled to distribute or pay over funds held by BLAC outside the Trust Account to the Sponsor or any of its affiliates prior to the Closing. At any time at or prior to the Business Combination, during a period when they are not then aware of any material non -publicinformation regarding BLAC or BLAC’s securities,