Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 494

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 494
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AC timely requested a hearing before the Hearings Panel (the “Panel”), which automatically stayed any suspension or delisting action of BLAC’s securities, and the hearing was held on October 1, 2024. On October 4, 2024, the Panel granted BLAC’s request for continued listing on the Nasdaq, subject to the requirement that on or before February 17, 2025, BLAC shall demonstrate compliance with Listing Rule 5505, and that during the exception period, BLAC shall provide prompt notification of any significant events that occur during this time that may affect BLAC’s compliance with Nasdaq requirements. Recent Promissory Notes On April 8, 2024 and April 17, 2024, BLAC issued unsecured promissory notes to Sponsor in the aggregate principal amount of $1,250,000 (the “April Sponsor Notes”). On May 14, 2024, BLAC issued an unsecured promissory note to the Sponsor (the “May Sponsor Note”) in the principal amount of $140,000. On July 11, 2024, BLAC issued to the Sponsor an unsecured promissory note (the “July Sponsor Note” and together with the April Sponsor Notes and 313 the May Sponsor Note, the “Sponsor Notes”) in the principal amount of $300,000 to the Sponsor. The Sponsor Notes do not bear interest and are payable in full on the earlier of (i) December 31, 2024 or (ii) the date on which BLAC consummates an initial business combination. In the event that BLAC does not consummate a business combination on or prior to the time provided in the Current Charter (as subject to extension), the Sponsor agrees to forgive the principal balance of the Sponsor Notes, except to the extent of any funds remaining outside of BLAC’s Trust Account. The following events constitute an event of default under the Sponsor Notes: (i) a failure to pay the principal within five business days of the maturity date and (ii) the commencement of a voluntary or involuntary bankruptcy action. The April Sponsor Notes, the May Sponsor Note and the July Sponsor Note were amended on January9, 2025 to extend their respective maturity dates to the earlier of: (i) September30, 2025 or (ii) the date on which BLAC consummates an initial business combination. The April Sponsor Notes, the May Sponsor Note and the July Sponsor Note were amended on January23, 202