Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 83

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 83
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 the note by (b) eight dollars and ten cents ($8.10). As of the date of this proxy statement, there was an outstanding balance under the promissory note of $800,000. For further details, see “ The Business Combination Agreement — General — Structure of the Transactions.”

34

Organizational Structure Prior to the Business Combination The following diagram shows the current ownership structure of BLAC.

| Pre-IPO BLAC |     | Post-IPO BLAC |

For more information about the ownership interests of our initial stockholders, including the Sponsor, prior to the Business Combination, please see the section entitled “ Beneficial Ownership of Securities.” The following diagram shows the current structure of OSR Holdings: Pre -BCOSR For more information about the ownership interests of OSR Holdings, prior to the Business Combination, please see the section entitled “ Beneficial Ownership of Securities.”

35 After the Business Combination The following diagram shows the structure after the Business Combination: Post -BC ____________ *Assumes holders of 60% of OSR Holdings common stock execute Participating Stockholder Joinders to the Amended and Restated Business Combination Agreement, the minimum amount required thereunder. **Include 4.5% holder of OSR Holdings who will not be participating in the business combination. Board of Directors of New OSR Holdings Following the Business Combination Following the Closing, and assuming that they receive a plurality of the votes cast only by the holders of BLAC Common Stock present in person or represented by proxy at the BLAC Stockholders’ Meeting and entitled to vote thereon, the Board will consist of the following members: Kuk Hyoun Hwang, Jun Chul Whang, Phil Geon Lee, Alcide Barberis, Seng Chin Mah, Jin Whan Park, Sang Hyun Kim, Hyuk Joo Jee, and Joon Myung Cho. In addition, following the Closing, we expect that a majority of the directors will be “independent” under applicable Nasdaq listing rules. See “ Management Following the Business Combination” for more information. Proposals to be put to the Stockholders of BLAC at the BLAC Stockholders’ Meeting The following is a summary of the proposals to be put to the BLAC Stockholders’ Meeting. Each of the proposals below, except the Advisory Governance Proposals and the Adjournment Proposal, is cross -conditionedon the approval of other proposals. The Advisory Governance Proposals and the Adjournment Proposal are not conditioned upon the approval of any