Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 354

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 354
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 from the issuance date. Pursuant to the Duksung Promissory Note, BCME, an affiliate of Sponsor and shareholder of OSR Holdings, agreed to deposit 400,000shares of BLAC Common Stock into an escrow account, to be governed by a separate escrow agreement to be entered into between Duksung and BCME. BCME and Duksung intend to enter into the escrow agreement following closing of the Business Combination. BCME did not receive separate consideration for its covenant to enter into the escrow arrangement other than the indirect benefit it receives as being an affiliate of the Sponsor and shareholder of OSR Holdings. On October 25, 2024, BLAC advanced a loan to OSR Holdings in the amount of $300,000 evidenced by a promissory note (the “OSR Holdings Promissory Note”) that bears interest at a rate of 3.96% per annum, compound semi -annually, and is due on October 25, 2025 (the “OSR Note Maturity Date”). Interest is payable only on maturity. The following events constitute an event of default under the OSR Holdings Promissory Note: (i) a failure to pay the outstanding balance due within five (5) business days of the OSR Note Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy action. The funds are to be used by OSR Holdings for working capital and other expenses of OSR Holdings. 211 MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES The following is a general discussion of the material U.S. federal income tax consequences (i) of the exercise of redemption rights by U.S. Holders and Non -U.S. Holders (each, as defined below) of BLAC Common Stock, (ii) of the Business Combination for U.S. Holders and Non -U.S. Holders of OSR Holdings Common Stock, and (iii) following the Business Combination, of the ownership and disposition of BLAC Common Stock received in the Business Combination. The following discussion, “ — U.S Holders — U.S. Federal Income Tax Consequences of the Business Combination to U.S. Holders of OSR Holdings Common Stock”constitutes the opinion of K&L Gates LLP as to the material U.S. federal income tax consequences of the Business Combination to U.S. Holders of OSR Holdings Common Stock, subject to the limitations, exceptions, beliefs, assumptions, and qualifications as set