Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 266

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 266
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 target companies, including a potential transaction with OSR Holdings. In connection with such discussions, and as permitted by Article V of BLAC’s Bylaws, the BLAC Board established the BLAC M&A Committee to consider the feasibility and terms of any such business combination, including consideration by the BLAC M&A Committee of the fairness of any such business combination, and any other factors such BLAC M&A Committee deems appropriate, and to recommend to the entire BLAC Board whether or not any such transaction is in the best interests of BLAC and its stockholders. The BLAC M&A Committee initially consisted of the following independent directors of BLAC: Radclyffe Roberts, Hosun Euh and Jin Whan Park. 157 The members of the BLAC M&A Committee were further authorized to (i) approve the execution of confidentiality and other ancillary agreements with potential target companies, investors and their representatives, and other parties in connection with the business combination, and (ii) approve the execution and negotiation of agreements relating to the engagement of financial advisors. The resolutions adopted by the BLAC Board provided that any member of the BLAC Board (including any member of the BLAC M&A Committee) that has a direct or indirect material personal interest in any potential Business Combination such that the potential transaction constitutes an Interested Director Transaction under applicable law shall be recused from consideration relating to such Interested Director Transaction and such BLAC Board member’s interest in and to such Interested Director Transaction shall be fully disclosed and considered in connection with the consideration of any such potential transaction by the BLAC M&A Committee. June 12, 2023 On a video conference held on June 12, 2023 between Mr. Hwang and OSR Holdings, Sung Jae Yu, COO and Director of OSR Holdings presented to the participants on the call the valuation reports on OSR Holdings’ subsidiaries prepared by third -partyexperts in the field of biopharma valuation from Switzerland and Korea. Mr. Yu explained why he believed the proposed business combination would be beneficial to BLAC stockholders, considering the market capitalization comparables of OSR Holdings’ subsidiaries in cancer vaccine/immuno -oncologyand disease -modifyingosteoarthritis drug (DMOAD) sectors in the global biopharmaceutical industry and market. See “The Business Combination — The BLAC M&A Committee’s Reasons for the Approval of the Business Combination — Fair Market Value”for detailed discussions on the fair market value reports on OSR Holdings’ subsidiaries. Subsequent to