Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 41

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 41
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) the outstanding principal amount and unpaid accrued interest under the note by (b) eight dollars and ten cents ($8.10). As of the date of this proxy statement, there was an outstanding balance under the promissory note of $800,000. Stockholders will experience additional dilution to the extent the post -combinationcompany issues additional shares after the Closing. The table above does not include (i) up to 9,784,486shares of BLAC Common Stock that will be issued to the Non -ParticipatingCompany Stockholders, (ii) up to 6,900,000 shares of New OSR Holdings Common Stock (as defined below) that will be issuable upon exercise of the public warrants, which have an initial exercise price of $11.50 per share (subject to adjustment in accordance with the Warrant Agreement), (iii) up to 430,000 shares of New OSR Holdings Common Stock that will be issuable upon exercise of the private warrants, which have an initial exercise price of $11.50 per share (subject to adjustment in accordance with the Warrant Agreement), (iv) 6,300,000shares of New OSR Holdings Common Stock, the maximum number of shares currently reserved for issuance under the Omnibus Plan and (v) an aggregate of $20,000,000 raised from the issuance of 222,222shares of BLAC Series A Preferred Stock at an average price of $90.00 per share which is convertible into 2,222,220shares of BLAC Common Stock.

10

The following table illustrates the impact on relative ownership levels assuming the issuance of all such shares.

|                                           |     | Pro Forma Combined 
          (Assuming 
    No Redemptions) |     |           |   |     | Pro Forma Combined 
          (Assuming 
   50% Redemptions) |     |           |   |     | Pro Forma Combined 
  (Assuming Maximum 
       Redemptions) |     |           |   |
|                                           |     |          Number of 
             Shares |     |         % 
 Ownership |   |     |          Number of 
             Shares |     |         % 
 Ownership |   |     |          Number of 
             Shares |     |         % 
 Ownership |   |
| OSR Holdings Stockholders(1)              |     |         24,461,214 |     |     56.28 | % |     |         24,461