Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 499

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 499
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 based on the number of authorized shares of BLAC common stock, to be $200,000, which is the maximum amount of annual franchise taxes payable by BLAC as a Delaware corporation per annum, which BLAC may pay from funds held outside of the Trust Account or from interest earned on the funds held in our Trust Account and released to BLAC for this purpose. BLAC’s annual income tax obligations will depend on the amount of interest and other income earned on the amounts held in the Trust Account. BLAC expects the interest earned on the amount in the Trust Account will be sufficient to pay its income taxes. To the extent that BLAC capital stock or debt is used, in whole or in part, as consideration to complete its initial business combination, the remaining proceeds held in the Trust Account will be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies. As of September 30, 2024, BLAC had $12,236 in its operating bank account and a working capital deficit of $3,901,465. BLAC’s liquidity needs prior to the consummation of its IPO had been satisfied through proceeds from advances from related party and from the issuance of common stock. Subsequent to the consummation of BLAC’s IPO, BLAC’s liquidity was satisfied through the net proceeds from the consummation of the IPO, the proceeds from the Private Placement Units held outside of the Trust Account and loans from the Sponsor, officers and directors and their affiliates. In order to fund working capital requirements or finance transaction costs in connection with the Business Combination, BLAC’s Sponsor, officers and directors or their affiliates may, but are not obligated to, loan BLAC funds. Such loaned amounts will be repaid if BLAC completes its initial business combination. In the event 315 that BLAC’s initial business combination does not close, BLAC may use a portion of the working capital held outside the Trust Account to repay such loaned amounts but no proceeds from our Trust Account would be used for such repayment. Up to $1,000,000 of such loans may be convertible into units, at a price of $10.00 per unit at the option of the lender, upon consummation of our initial business combination. The units would be identical to the Private Placement Units. The terms of such loans by BLAC’s Sponsor, officers and directors or their affiliates, if any, have not been determined and no written agreements exist with respect to such loans. BL