Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 282

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 282
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 materials circulated in advance of the meeting. The BLAC M&A Committee discussed events that had transpired between OSR Holdings and LBV and the implications for the Combined Company following the Business Combination. Mr. Hwang and counsel from K&L Gates then discussed the impacts on the Business Combination Agreement dated November 16, 2023, between BLAC and OSR Holdings and changes that would be warranted following the termination of the transaction between OSR Holdings and LBV. Counsel from K&L Gates then described material terms of the proposed Amended and Restated Business Combination Agreement, a draft of which had been circulated to the members of the BLAC M&A Committee in advance of the meeting. Members of the BLAC M&A Committee asked questions of counsel and management and following such conversation, members of management of BLAC departed the meeting and the BLAC M&A Committee discussed the proposed Amended and Restated Business Combination Agreement. The BLAC M&A Committee noted that on July 7, 2023, OSR Holdings entered into a letter of intent with LBV for the acquisition of 100% of the equity interests in LBV and certain entities affiliated with LBV from the holders thereof. The BLAC M&A Committee further noted that, subsequent to the execution of the Business Combination Agreement, on March 18, 2024, LBV and OSR Holdings mutually terminated the letter of intent regarding the LBV Acquisition, and OSR Holdings and LBV abandoned further discussions regarding the LBV Acquisition. The BLAC M&A Committee acknowledged that, in light of the termination of the proposed LBV Acquisition, the terms of the Business Combination Agreement need to be amended in order to remove references therein to LBV and to conform changes to the structure and terms of the Business Combination. The BLAC M&A Committee further acknowledged that BLAC’s management actively negotiated with OSR Holdings the terms and conditions of an Amended and Restated Business Combination Agreement. The members of the BLAC M&A Committee confirmed that they reviewed the draft Amended and Restated Business Combination Agreement, and the amended terms of the Business Combination and the transactions contemplated thereby, including: (i) the removal of references to the proposed acquisition by OSR Holdings of LBV, and incidental changes related thereto; (ii) a reduction in the Aggregate Consideration from 25,033,961shares of BLAC Common Stock to 24,461,214shares of BLAC Common Stock; (iii) a reduction in the Aggregate Consideration Value from $250,