Company: OSRH
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109054
Chunk: 9

Company: OSR Holdings, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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-augmented biologics for age-related and other
degenerative diseases and (iii) neurovascular intervention medical device and systems distribution in Korea. The Group’s vision
is to acquire and operate a portfolio of innovative health-care related companies globally.

The Company (formerly known as Bellevue Life Sciences
Acquisition Corp. or BLAC) was incorporated in Delaware on February 25, 2020. The Company was incorporated for the purpose of entering
into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination
with one or more businesses or entities (the “Business Combination”). The Company is an emerging growth company
and, as such, the Company is subject to all of the risks associated with emerging growth companies.

On February 14, 2025 (the “Closing Date”),
the Company consummated its previously announced business combination (the “Business Combination”) with OSR Holdings Co.,
Ltd., a corporation organized under the laws of the Republic of Korea (“OSR”), pursuant to the Amended and Restated Business
Combination Agreement dated May 23, 2024, as amended on December 20, 2024 (the “Business Combination Agreement”). The Business
Combination Agreement was entered into among the Company, OSR, and certain OSR stockholders that executed joinder agreements thereto.
In connection with the consummation of the Business Combination, the Company changed its name from “Bellevue Life Sciences Acquisition
Corp. or BLAC” to “OSR Holdings, Inc.”

The Business Combination was consummated on February
14, 2025, which, for accounting and reporting purposes under U.S. generally accepted accounting principles (US-GAAP), was treated as the
equivalent of OSR Holdings Co., Ltd. exchanging its stock for the net assets of OSR Holdings, Inc, accompanied by an equity recapitalization
of OSR Holdings, Inc, which was determined to fall within the scope of Accounting Standards Codification (ASC) 805 Business Combinations.
OSR Holdings, Inc. was treated as the acquired company, and its net assets were stated at historical cost, with no goodwill or other intangible
assets recorded. The excess of the fair value of shares exchanged to OSR Holdings, Inc. over the fair value of OSR Holdings, Inc’s
identifiable net assets acquired represented compensation for the service of a stock exchange listing for its shares