Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1074

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 4
Chunk 1074
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 Duksung Co., LTD. (“Duksung”) in the principal amount of $800,000 (the “Duksung Promissory Note”).
In the event of, and simultaneously with the closing of a Qualified PIPE Financing (as defined in the Duksung Promissory Note), the Duksung
Promissory Note automatically converts into Company common stock.

On February 25, 2025 we entered into an equity purchase agreement with
White Lion GBM Innovation Fund (the “ELOC Agreement”), providing that the Company has the right, but not the obligation,
to require White Lion to purchase, from time to time, up to the lesser of (i) $80,000,000 in aggregate gross purchase price of newly issued
shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), and (ii) the Exchange Cap, in
each case, subject to certain limitations and conditions set forth in the Common Stock Purchase Agreement. A more detailed discussion
of this agreement is included in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results
of Operations – Liquidity and Capital Resources.”

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More detailed discussions of the Duksung Promissory Note and the ELOC
Agreement are included in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of
Operations – Liquidity and Capital Resources.”

Information about additional unregistered sales of our equity securities
in connection with the Business Combination is set forth under Item 2.01 of our Current Report on Form 8-K filed with the SEC on February
14, 2025.

Use of Proceeds from Registered Offerings 

On February 14, 2023, we consummated our initial public offering
(“IPO”) of an aggregate of 6,000,000 units, at $10.00 per unit (“Units”), generating gross proceeds
of $60,000,000 before underwriting discounts and expenses.

Simultaneously with the closing of our IPO, our sponsor, Bellevue Global
Life Sciences Investors, LLC (“Sponsor”), purchased an aggregate of 430,000 units at a price of $10.00 per unit, for
an aggregate purchase price of $4,300,000 (“Private Placement Units”).

In connection with our IPO, the underwriters were granted a 45-day
option from the date of our prospectus issued in connection with our IPO