Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1042

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 3
Chunk 1042
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 a liquidation,
merger, capital stock exchange, reorganization or other similar transaction that results in all of the stockholders having the right to
exchange their shares of Common Stock for cash, securities or other property.

Private Placement Units

The Sponsor has purchased
an aggregate of 430,000 Private Placement Units at a price of $10.00 per Private Placement Unit in a private placement
that occurred simultaneously with the consummation of the Initial Public Offering. Each Private Placement Unit consists of one share
of Common Stock, one redeemable warrant entitling the holder to purchase one share of Common Stock, and one right
which entitles the holder thereof to receive one-tenth (1/10) of a share of common stock. The Private Placement Warrants
are exercisable only to purchase whole shares of Common Stock at an exercise price of $11.50 per share, subject to adjustment (see
Note 7). Proceeds from the sale of the Private Placement Units were added to the net proceeds from the Initial Public Offering held in
the Trust Account. If the Company does not complete the initial Business Combination within the Combination Period, the proceeds from
the sale of the Private Placement Units held in the Trust Account will be included in the liquidating distribution to the holders of the
Public Shares.

The Sponsor and the Company’s officers and
directors will agree, subject to limited exceptions, not to transfer, assign or sell any of their Private Placement Units, including the
component securities therein until 30 days after the completion of the Business Combination.

F-16

OSR HOLDINGS, INC.

(f/k/a Bellevue Life Sciences Acquisition Corp.) 

NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

Due from Affiliate 

On October 25, 2024, OSR Co., Ltd. issued a promissory
note to the Company in the aggregate principal amount of $300,000 (the “OSR Promissory Note”) to fund working capital and
other expenses of OSR Co., Ltd. The OSR Promissory Note bears interest at a rate of three and ninety-six hundredths’ percent (3.96%)
per annum and shall be compounded semi-annually. The OSR Promissory Note is payable on October 25, 2025 (the “OSR Promissory Note
Maturity Date