Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 351

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 351
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 (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 of the Series A Original Issue Price (except as otherwise provided for in the Certificate of Designations) to be payable only when, as, and if declared by the BLAC Board or as otherwise specifically provided in the Certificate of Designations; (2) the Series A Preferred Stock is convertible, at the option of the holder thereof, into shares of BLAC Common Stock in an amount equal to the quotient of (i) the Series A Original Issue Price plus all unpaid accruing dividends as of the date of the conversion and (ii) the Conversion Price. The initial Conversion Price is $9.00 resulting in each share of Series A Preferred Stock being convertible into 10shares of BLAC Common Stock. The proceeds of the PIPE Investment will be used by BLAC for working capital and general corporate purposes following the closing of the Business Combination. The Subscription Agreement contains customary representations and warranties of BLAC and Toonon, and customary conditions to closing, including (i) the consummation of the Business Combination and (ii) certification by an officer of BLAC that the Certificate of Designations has been filed with the Secretary of State of the State of Delaware and is in full force and effect. Additionally, pursuant to the Subscription Agreement, BLAC and Toonon will enter into a registration rights agreement prior to closing of the PIPE Investment, pursuant to which, among other things, BLAC will be obligated