Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 281

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1
Chunk 281
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 the meeting. The stockholders also approved to all other changes including eliminating certain provisions related
to special purpose acquisition companies that will no longer be relevant following the closing of the Business Combination. The stockholders
also approved to elect nine (9) individuals as directors of OSR, Inc. following the closing of the Business Combination until their respective
successors are duly elected and qualified. The stockholders also approved, for purposes of complying with the applicable listing rules
of the Nasdaq Stock Market LLC, the issuance of shares of OSR, Inc. common stock pursuant to the Business Combination Agreement in connection
with the Business Combination. In connection with the votes to approve the Adjournment Proposal, 57,821 shares of common stock
of the Company were tendered for redemption.

Sponsor Advances

On April 11, 2025 and April 14, 2025, the Sponsor transferred $30,478
and $15,241, respectively, to the Company. These amounts are expected to be applied as reductions to the outstanding balance of due to
Affiliate, which totaled $72,000 as of December 31, 2024. Following these transfers, the outstanding balance is expected to be reduced
to $26,281.

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