Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 313

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 313
---
 opinion, Choloc has not been engaged to provide financial advisory or other services to BLAC or OSR Holdings and Choloc has not received any compensation from BLAC or OSR Holdings during this period. Choloc was selected to act as the fairness opinion provider to the BLAC M&A Committee because of its qualifications and expertise in valuing early -stagelife sciences companies, as well as its familiarity with the business of OSR Holdings, including the fact that OSR Holdings and its operations are primarily located in Korea. Choloc’s opinion is not intended to and does not constitute a recommendation to any BLAC stockholder as to how such stockholder should vote or act with respect to the transaction or any matter relating thereto. BLAC M&A Committee’s engagement of AF for valuation services AF was engaged by the BLAC M&A Committee in April 2024 to prepare financial models on Darnatein and Vaximm based on various sets of assumptions, including business and cash flow projections, probability of preclinical and clinical development scenarios, markets and pricing, and competitive landscape. AF did not independently verify the information that it was provided in connection with the analyses and AF did not and does not render an opinion on the fairness of the transaction. AF understands its analyses have been provided to and relied upon by Choloc in connection with Choloc’s preparation of its fairness opinion. The Scope of AF’s services •Review the financial information and assumptions presented by BLAC; •Provide support for rNPV model developments based on information supplied by BLAC; and •Develop excel -basedvaluation models for Darnatein and Vaximm based on the foregoing. Fees In connection with AF’s engagement, BLAC agreed to pay AF an aggregate fee of KRW 30,000,000 (VAT excluded) None of AF’s fee was contingent on the consummation of the Business Combination and AF provided no previous services to the parties to the Business Combination Agreement or their affiliates. In connection with the services rendered by Ghilin for the December 2022 and the January 2023 valuation reports, OSR Holdings paid Ghilin a total amount of KRW 35,200,000 (V.A.T. included). OSR Holdings did not commission or pay Avance for the 2020 valuation report it produced. The report was prepared for Vaximm prior to OSR Holdings’ acquisition of Vaximm. Vaximm paid Avance CHF 13,086 for the 202