Company: OSRH
Filing Date: 2025-08-29
Form Type: DEF 14A
Source: 0001213900-25-082061
Chunk: 36

Company: OSR Holdings, Inc.
Filing Date: 2025-08-29
Form: DEF 14A
Chunk 36
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 of the outstanding Convertible Note(s). At any time, White Lion may convert one or both Convertible Notes at 95% multiplied by the lowest Volume Weighted Average Price (“VWAP”) fifteen days prior to the conversion notice. The Company and White Lion have agreed that no more than 4.99% of the shares outstanding will be issued to White Lion, which amount may be adjusted to 9.99% upon 61 days’ prior written notice from White Lion. The Note Purchase Agreement and each Convertible Note contains these and other customary representations, warranties and agreements of the Company and White Lion, limitations and conditions regarding sales of common stock, indemnification rights and other obligations of the parties. 21 Copies of the Note Purchase Agreement and Senior Secured Convertible Promissory Note issued May 6, 2025, between the Company and White Lion were filed as Exhibit 10.1 and 10.2, respectively, to the Company’s Current Report on Form 8 -Kfiled on May 12, 2025. The Form 8 -Kfiled with the SEC on May 12, 2025, and the documents filed as exhibits thereto are incorporated herein by reference. Reasons for Seeking Approval of the Nasdaq 20% Issuance Proposal Our common stock is listed on the Nasdaq Capital Market, and, as such, we are subject to the Nasdaq Listing Rules. We are seeking stockholder approval of the Convertible Note Offering Proposal in order to comply with Nasdaq Listing Rule 5635. Nasdaq Listing Rule 5635(d) requires stockholder approval of transactions other than a public offering involving the sale or issuance by the issuer of common stock (or securities convertible into or exercisable for common stock) equal to 20% or more of the common stock or 20% or more of the voting power outstanding before the issuance for a price that is less than the lower of: (i) the closing price of the common stock immediately preceding the signing of the binding agreement for the issuance of such securities; or (ii) the average closing price of the common stock for the five trading days immediately preceding the signing of the binding agreement for the issuance of such securities (the “Minimum Price”). Based upon Nasdaq Listing Rule 5635(d), we cannot issue in excess of 3,853,467 shares of our common stock as of the date of the Common Stock Purchase Agreement upon conversion of the Note, exercise of the Warrant, unless the issuance of