Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 129

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 129
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 of terrorism; •the failure of securities analysts to publish research about New OSR Holdings, or shortfalls in its operating results compared to levels forecasts by securities analysts; •announcements concerning New OSR Holdings or its competitors; and •the general state of the securities markets. These market and industry factors may materially reduce the market price of New OSR Holdings’ Common Stock and warrants, regardless of its operating performance. 65 Following the Business Combination, New OSR Holdings will be a controlled company within the meaning of the Nasdaq Listing Rules and, as a result, will qualify for, and may rely on, exemptions from certain corporate governance requirements. Stockholders of New OSR Holdings may not have the same protection afforded to stockholders of companies that are subject to such governance requirements. After the Business Combination, Kuk Hyoun Hwang, BLAC’s Chief Executive Officer will control a majority of the voting power of the outstanding shares of New OSR Holdings Common Stock. As a result, New OSR Holdings will be a “controlled company” within the meaning of the corporate governance standards of Nasdaq. Under these corporate governance standards, a company of which more than 50% of the voting power for the election of directors is held by an individual, group or another company is a “controlled company” and may elect not to comply with certain corporate governance requirements. For example, controlled companies: •are not required to have a board that is composed of a majority of “independent directors” as defined under the Nasdaq listing rules; •are not required to have a compensation committee that is composed entirely of independent directors or have a written charter addressing the committee’s purpose and responsibilities; and •are not required to have director nominations be made, or recommended to the full board of directors, by its independent directors or by a nominating and corporate governance committee that is composed entirely of independent directors, and to adopt a written charter or a board resolution addressing the nominations process. While New OSR Holdings does not initially intend to rely on these exemptions, New OSR Holdings may opt to utilize these exemptions in the future as long as it remains a controlled company. Accordingly, New OSR Holdings stockholders may not have the same protections afforded to stockholders of companies that are subject to all of the corporate governance requirements of Nasdaq. If New OSR Holdings ceases to be a “controlled company” in the future, it will be required to comply with the Nasdaq Listing Rules, which may require replacing a number of its directors and may require development of certain