Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 257

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 257
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 considering OSR Holdings as a target candidate, and OSR Holdings’ group discussions began to include the topic of a possible business combination with BLAC. Discussions also included BLAC’s potential business combination with other companies, since BLAC turned to the scientific, medical, financial and other inhouse expertise of its affiliated company OSR Holdings (and OSR Holdings’ subsidiaries) in evaluating its potential business targets. During these weekly meetings (as well as at other times), when discussing a potential BLAC/OSR Holdings business combination, Mr. Hwang was mindful of the fact that he held dual roles with BLAC and OSR Holdings, and mindful of the potential for a conflict of interest arising from his dual representation. Mr. Hwang made reasonable efforts to ensure that a BLAC/OSR Holdings business combination would be beneficial to each party separately, as well as both parties together, and made every reasonable effort to be a neutral and balanced advocate 151 for both parties he represented. Mr. Hwang was aware that for BLAC, the benefits would include the execution of a business combination with a holding company with a portfolio of operating companies, which was in accordance with its publicly stated business strategy, and the ability to execute a complex business transaction with a company with which BLAC (through Mr. Hwang) was already familiar. From OSR Holdings’ perspective, Mr. Hwang was aware that a business combination with BLAC could provide a capital infusion and a publicly traded security, which would enable it to pursue its goal of expanding its portfolio of companies in the biotech/medtech and biopharma spaces, as well as recruiting qualified individuals to expand its existing business to a global scale. BLAC determined that it was an objectively reasonable business decision in its search for a target company to seek a business combination with OSR Holdings. BLAC did not consider any other alternative combination targets to be as compelling as OSR Holdings when evaluating potential alternative companies’ business prospects, strategy, management teams, structure, likelihood of execution (including taking account of timelines for completion of a business combination) and valuation considerations. February 20, 2023 At OSR Holdings’ weekly Monday morning meeting on February 20, 2023, in attendance were Mr. Hwang and OSR Holdings executives Sung Hoon Chung, Sung Jae Yu, Soo Eun Nam, Yeiseok Kim and Taemin Lee. Among other topics of discussion, as a representative of BLAC, Mr. Hwang said that while BLAC had initiated a search for