Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 309

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 309
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ants and agreements required to be performed by such party; •all conditions to the consummation of the Transaction will be satisfied without waiver thereof; •the Transaction will be consummated in a timely manner in accordance with the Business Combination Agreement; •the Transaction will be consummated in a manner that complies in all respects with all applicable federal and state statutes, rules, and regulations; and •all governmental, regulatory, and other consents and approvals necessary for the consummation of the Transaction will be obtained and that no delay, limitations, restrictions, or conditions will be imposed, or amendments, modifications or waivers made that would have an effect on the Transaction or on OSR Holdings that would be material to Choloc’s analyses or the Fairness Opinion. Summary of the Financial Analyses of Choloc In preparing to render its opinion to the BLAC M&A Committee, Choloc performed a variety of financial and comparative analyses, and, for purposes of its opinion, used only those financial models that Choloc prepared, with the exception of the financial projection models prepared by AF and Ghilin. This summary does not purport to be a complete description of the financial analyses performed or factors considered by, and underlying Choloc’s opinion, nor does the order of the financial analyses described represent the relative importance or weight given to those financial analyses. The preparation of a financial opinion or analysis is a complex process involving various determinations as to the most appropriate and relevant methods of financial analysis and the application of those 186

methods to the particular circumstances and, therefore, a financial opinion or analysis is not readily susceptible to summary description. In arriving at its opinion, Choloc considered the results of all of the analyses undertaken by it and assessed as a whole and did not draw, in isolation, conclusions from or with regard to any particular factor or method of analysis considered by it. Rather, Choloc made its determination as to fairness on the basis of its experience and professional judgment after considering the results of all of the analyses. Accordingly, Choloc believes that its analyses and factors summarized herein must be considered as a whole and in context. Choloc further believes that selecting portions of its analyses and factors or focusing on information presented in tabular format, without considering all analyses and factors or the narrative description of the analyses and factors, could create a misleading or incomplete view of the processes underlying its analyses and opinion. In performing its analyses, Choloc considered industry performance, general business, economic, market and financial conditions