Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 247

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 247
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, Darnatein (subsidiary of OSR Holdings) (science) Other Companies BLAC Considered for Business Combination Company A An alternative target that BLAC considered (“Company A”) was introduced to BLAC on March 2, 2023 by Mr. Whang, who has known Company A’s current President and CEO professionally and socially for the past decade. The company has developed diagnostic applications in ophthalmology, infectious disease (including COVID -19) and oncology, and utilizes AI to analyze genetic data for early diagnosis of disease. Mr. Whang is also a personal 147 acquaintance of a partner at a Seoul based law firm that has represented Company A as Korea Counsel for close to a decade. Mr. Whang was knowledgeable that at latest as of mid -2019, Company A was contemplating listing directly on the Korean public markets (KOSDAQ), but did not have any business or potential business relationships with Company A or its President and CEO until after BLAC‘s IPO on February 14, 2023. Mr. Whang received and shared Company A’s non -Confidentialdeck with BLAC and OSR Holdings via email dated March 9, 2023. In December 2022, Company A entered into a non -bindingletter of intent to combine with another SPAC and their exclusive negotiation period expired on March 3, 2023. Immediately upon expiration of the exclusivity period, Company A requested a meeting with BLAC to gauge BLAC’s interest in Company A as a potential target company for its business combination. Company A had been aware of BLAC’s recent IPO. In New York City, on March 10, 2023, Company A’s President and CEO (at the time Company A’s Chief Strategy Officer), met with Mr. Hwang, Mr. Shin and Mr. Whang to discuss Company A’s pursuit of a SPAC combination. Topics of discussion included an introduction to BLAC and its operational and acquisition strategy, and a status update on Company A’s search for a SPAC business combination partner. The parties discussed BLAC’s February 14, 2023, $60 million IPO, and its underwriter Chardan’s exercise of its 15% overallotment option, bringing the total in trust to $69 million. Company A informed BLAC that at one point, Company A’s self -assessedvaluation was over $1 billion, but that due to Company A -specificissues, as well as biotech market conditions generally,