Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 254

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 254
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 consideration by BLAC was to pursue an affiliated transaction, executing a business combination with OSR Holdings. Given Company B’s current estimated self -valuationof the company (approximately $35 -40m), Mr. Whang told Investor A that even if BLAC were to execute a direct business combination with Company B, BLAC would seek to execute a business combination with other companies. In connection with this strategy, Mr. Whang asked whether Company B would consider the possibility of being acquired by OSR Holdings, in addition to the possibility of a direct business combination with BLAC. Over the following weeks, Messrs. Whang and Hwang and OSR Holdings were in communication with Investor A, and his colleague and business partner, to arrange for an in -personmeeting at BLAC/OSR Holdings’ offices in Seoul. Investor A proposed to bring another colleague from a manufacturing partner to the meeting. Investor A told Mr. Whang that such company would become Company B’s manufacturing partner for product distribution in Korea. Upon conducting initial due diligence and background checks, it was discovered that a key individual from the potential manufacturing partner was involved (as of April 2023) in litigation. Subsequently, BLAC decided not to pursue further discussions with Company B. Company C On March 21, 2023, BLAC received an unsolicited email from the Chief Business Officer of another potential target company of BLAC (“Company C”), inquiring about business combination opportunities that BLAC was considering. Company C is a clinical stage immune -oncologycompany with two broadly applicable platform technologies involving CAR -CIKAutologous RNA loaded dendritic cells. The Chief Business Officer of Company C wrote he had seen an announcement of BLAC’s recent listing on Nasdaq. By email dated April 13, 2023, Company C sent BLAC its non -confidentialcompany presentation. The presentation was circulated internally at BLAC and OSR Holdings for review. By email dated April 24, 2023, Mr. Hwang inquired about Company C’s technology and asked for a mutually convenient time for a video conference. On April 28, 2023, officers of Company C, BLAC (Messrs. Hwang and Whang), OSR Holdings (Sung Hoon Chung and Dr. Senyeon Choe), Dr. Pan, and Mr. Shin, participated in a video conference. Mr. Hwang began by explaining that currently, BLAC was considering an affiliated transaction with OSR Holdings, that OS