Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 408

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1A
Chunk 408
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 (the “Lock-Up Agreements”) with Bellevue Capital Management LLC (“BCM”), BCM Europe AG
(“BCME”), Sung Jae Yu, and Sung Hoon Chung (together, the “Holders”), pursuant to which the Holders
are contractually restricted from selling or transferring between 70%-100% of their shares of Company Common Stock received in the Share
Exchange (the “Lock-Up Shares”). Such restrictions became applicable commencing from the Closing Date and end (i) with
respect to BCM and BCME, on the 36-month anniversary of the Closing Date; and (ii) with respect to Sung Jae Yu and Sung Hoon Chung, on
January 1, 2026.

The foregoing summary is subject to and qualified in its entirety by
reference to the Form of Lock-Up Agreement, which is filed hereto as Exhibit 10.3 to the Company’s February 21, 2025 8-K Filing
and the terms of which are incorporated herein by reference.

As previously disclosed by the Company in its
Current Report on Form 8-K filed On February 18, 2025, on February 14, 2025 the Company issued a press release announcing the closing
of its previously announced business combination with the Company Co., Ltd., a corporation organized under the laws of the Republic of
Korea. A copy of the press release is attached to the Company’s February 18, 2025 Form 10-K filing as Exhibit 99.1 thereto and is
incorporated herein by reference. 

As previously reported by the Company on Form 8-K dated October 25,
2024, on that date the Company advanced a loan to OSR in the amount of $300,000 evidenced by a promissory note (the “the Company
Promissory Note”) that bears interest at a rate of 3.96% per annum, compound semi-annually, and is due on October 25, 2025.
Interest is payable only on maturity. The following events constitute an event of default under the Company Promissory Note: (i) a
failure to pay the outstanding balance due within five (5) business days of the Maturity Date and (ii) the commencement of a
voluntary or involuntary bankruptcy action. The funds were to be used by OSR for working capital and other expenses of OSR.

The Company Promissory Note is filed as Exhibit 10.1 to the