Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 489

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 489
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 additionally transferred 20,000 private placement warrants to each of Dr. Reed for his service as chairman of the board of directors, Dr. Chung for his service as chair of the audit committee, and Mr. Yoo for his service as chief financial officer. Clawback Policy On November 15, 2023, the Board adopted an Incentive -BasedCompensation Recovery Policy (the “Clawback Policy”) in order to comply with Section 10D of the Exchange Act, Rule 10D -1of the Exchange Act and the listing standards adopted by the Nasdaq Stock Market. The Clawback Policy provides for the mandatory recovery of erroneously awarded incentive -basedcompensation from current and former executive officers (as defined in the Clawback Policy) of the Company in the event that the Company is required to prepare an accounting restatement. The Clawback Policy is included as an exhibit to its annual report on Form 10 -Kfor the fiscal year ended December 31, 2023. The Clawback Policy can also be reviewed by accessing BLAC’s public filings at the SEC’s web site at www.sec.gov. 311 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS OF BLAC Overview BLAC is a blank check company incorporated as a Delaware corporation and formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. BLAC intends to effectuate its initial business combination using cash from the proceeds of BLAC’s IPO and the Private Placement Units, the proceeds of the sale of its capital stock in connection with our initial business combination, shares issued to the owners of the target, debt issued to banks or other lenders or the owners of the target, or a combination of the foregoing. Recent Developments Extension of Termination Date November Special Meeting On November 9, 2023, BLAC held a special meeting of its stockholders (the “November 2023 Special Meeting”). At the November 2023 Special Meeting, BLAC’s stockholders approved the proposal (the “First Extension Amendment Proposal”) to amend the Current Charter to extend the date by which BLAC must consummate a business combination from November 14, 2023 to February 14, 2024 (the “First Extended Date”) and approved a proposal to give the BLAC Board the authority in its discretion to amend the Current Charter to extend the date by which BL