Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 347

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 347
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OTE “FOR” THE BUSINESS COMBINATION PROPOSAL. 209 CERTAIN AGREEMENTS RELATED TO THE BUSINESS COMBINATION Related Agreements Lock-Up Agreements In connection with the Closing, BLAC and certain stockholders of OSR Holdings will enter into Lock -UpAgreements providing for certain restrictions on transfer applicable to New OSR Holdings Common Stock, which shall exclude 30% of the shares of New OSR Holdings Common Stock held by such stockholders. Generally, the Lock -UpAgreement prohibits stockholders from (i) selling, offering to sell, contracting or agreeing to sell, hypothecating, pledging, granting any option to purchase or otherwise disposing of or agreeing to dispose of, directly or indirectly, or establishing or increasing a put equivalent position or liquidating or decreasing a call equivalent position within the meaning of Section 16 of the Exchange Act, and the rules and regulations of the SEC promulgated thereunder with respect to the Lock -UpShares, (ii) entering into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any of the Lock -UpShares, whether any such transaction is to be settled by delivery of Lock -UpShares or other securities, in cash or otherwise, or (iii) publicly announcing any intention to effect any transaction specified in the immediately preceding subsections (i) or (ii), subject to certain limited exceptions set forth in the Lock -UpAgreement. The lock -upperiod under Lock -UpAgreement lasts until December 31, 2025. PIPE Financings On October 4, 2024, BLAC and Toonon entered into a subscription agreement (as amended on December 17, 2024, the “Subscription Agreement”), pursuant to which, among other things, BLAC has agreed to issue and sell to Toonon, and Toonon has agreed to subscribe for and purchase, the PIPE Shares of Series A Preferred Stock of BLAC for a purchase price of $90.00 per share, representing an aggregate purchase price of $20,000,000. Prior to closing of the PIPE Investment, the Company intends to file with the Secretary of State of the State of Delaware a Certificate of Designations setting forth the rights and preferences of the Series A Preferred Stock, which have been agreed to between BLAC and Toonon. Such rights and preferences include, among others, that (1) dividends will accrue at a rate of 5% per annum