Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 263

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 263
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 formed) and the BLAC Board independently reviewed, and agreed with, the contents of the fair market value analyses, a summary of which is in the section entitled “The Business Combination — The BLAC M&A Committee’s Reasons for the Approval of the Business Combination — Fair Market Value. ”Although the BLAC Board considered the third -partyvaluation analyses provided by OSR Holdings in connection with its decision to approve the Business Combination, the BLAC Board took into account the fact that these reports were (i) not recently prepared, (ii) were not prepared giving effect to, or with regard to, the Business Combination, and (iii) were not prepared for, or delivered directly to, the BLAC Board. The BLAC Board considered the information along with the totality of information provided to the BLAC Board in connection with its diligence of OSR Holdings, and did not ascribe any particular or special weight to the third -partyvaluation reports. The reports merely affirm the BLAC Board’s findings in connection with its independent review of OSR Holdings, and its approval of the Business Combination was at all times subject to the receipt of a fairness opinion. See “The Business Combination — The BLAC M&A Committee’s Reasons for the Approval of the Business Combination”for a detailed discussion on the material findings made in connection with due diligence of OSR Holdings, including with respect to the third -partyvaluation and fair market value reports. May 8, 2023 In attendance at OSR Holdings’ weekly Monday morning meeting on May 8, 2023 were Mr. Hwang and OSR Holdings members Sung Hoon Chung, Sung Jae Yu, Soo Eun Nam, Yeiseok Kim and Taemin Lee. Mr. Hwang, representing BLAC, announced BLAC’s intent to seek a business combination with OSR Holdings, subject to approval by the BLAC Board. OSR Holdings members informed Mr. Hwang that, after careful consideration of all the factors regarding a business combination with BLAC discussed over the course of the past several months, they agreed in principle to pursue discussions for a business combination with BLAC. May 18 and 19, 2023 By emails on May 18 and19, 2023, Tom Shin emailed five US -basedinvestment banking and financial advisory firms for a possible engagement by BLAC to provide a fairness opinion on a potential business combination between BLAC and OSR Holdings. After initial introductions and discussions, BLAC came to the view that none of these firms possessed