Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 814

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 2
Chunk 814
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 Call Right terminate and expire 120 days after the Trigger Date. The exchange ratio is fixed
under the put/call rights at the same exchange ratio set forth in the Business Combination Agreement, and there is no option for cash
settlement. Holders of approximately 11% of the outstanding OSR Common Stock did not sign a Joinder and will continue to hold their shares
of OSR Common Stock, and such shares will not be subject to any contractual put or call rights, or other conversion rights, with or into
Company Common Stock.

As of the Closing Date, Kuk Hyoun Hwang beneficially held approximately
67.8% of the outstanding shares of the Company Common Stock.

Prior to the Closing Date, the Company entered into participating joinders
(the “Participating Joinders”) with the Participating Stockholders, pursuant to which the Company issued an aggregate
of 16,282,047 shares of Company Common Stock to the Participating Stockholders in exchange for an aggregate of 1,256,085 shares of OSR
Common Stock, or approximately 67% of the outstanding shares of OSR Common Stock. Pursuant to the Participating Joinders, the Participating
Stockholders became party to the Business Combination Agreement with all attendant rights, duties and obligations (including in respect
of all of the representations, warranties, covenants, agreements and conditions of the Business Combination Agreement), with the same
force and effect as if originally named as a “Participating Company Stockholder” in the Business Combination Agreement.

The Participating Joinders contain customary representations, warranties
and covenants, and include a general release of all claims against the Company, OSR and each of its and their respective affiliates, successors,
assigns, officers, directors, employees, agents, administrators and trustees.

The foregoing summary is subject to and qualified in its entirety by
reference to the Form of Participating Joinder, which is filed hereto as Exhibit 10.1 to the Company’s February 21, 2025 8-K Filing
and the terms of which are incorporated herein by reference.

Prior to the Closing Date, the Company entered into non-participating
joinders (the “Non-Participating Joinders” and, together with the Participating Joinders, the “Joinders”)
with the Non-Participating Stockholders, pursuant to which the Non-Participating Stockholders became party to the Business Combination
Agreement with all attendant