Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 456

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 456
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000 from BLAC due October 25, 2025 bearing interest of 3.96%. Each of the loans is unsecured and were for working capital purposes, including providing working capital to subsidiaries. OSR Holdings has incurred net losses each year since inception except for 2022 when OSR Holdings recorded a net profit of KRW 1.3 billion due to a one -timegain (non -cash) on the exchange of the 1,750 BCME preference shares for shares of Vaximm. OSR Holdings’ net loss in 2021 was KRW 634.35 million. OSR Holdings recorded a net profit of KRW 1.34 billion in 2022 and a net loss of KRW 13.09 billion for the year ended December 31, 2023. OSR Holdings recorded a net loss of KRW 8.9 billion for the six months ending June 30, 2024. New OSR Holdings expects to continue to incur significant losses for the foreseeable future due mainly to its R&D expenses and working capital requirements as its subsidiaries continue to ramp up their development activities. As of June 30, 2024, OSR Holdings had an accumulated deficit of KRW 21.14 billion. 288 OSR Holdings expects its operating expenses to increase significantly in the second half of 2024 largely due to increased legal and other expenses incurred in connection with the Agreement and to a lesser extent the cost of product revenue. New OSR Holdings expects its operating expenses to increase further in 2025 as its subsidiaries continue to develop their pipelines of pre -clinicaland clinical product candidates, while New OSR Holdings continues to identify and invest in startup and/or acquisition opportunities in the global healthcare sector. In addition, New OSR Holdings expects its selling, general and administrative expenses to increase beginning in 2024, after closing of the Business Combination, due to modest increases in headcount along with anticipated expenses associated with becoming a public company. New OSR Holdings expects that current cash resources plus the gross proceeds of approximately $20 million expected from the PIPE Financing, will provide sufficient funding to support its continued operations into 2026. The issuance of PIPE Financing may adversely affect the market price for New OSR Holdings Common Stock. Based on our current plans and estimates, we anticipate this financial runway will allow New OSR Holdings to fund the research and development, pre -clinicalstudies, clinical trials and administrative expenses of its portfolio companies into 2026. There are, however