Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 242

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 242
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an, and BLAC’s knowledge of the general SPAC market conditions of the previous years (2021 -2023) during which the timelines for completing business combinations had generally become increasingly shorter. Due to the short time frame and the accompanying time pressure, BLAC was restricted in the total number of companies that it could review, analyze, conduct meetings with, and otherwise consider in connection with its efforts to find a company or companies with which to execute a business combination. In addition, BLAC’s Current Charter contains a waiver of the corporate opportunity doctrine, and there could have been business combination targets that would have been appropriate for a combination with BLAC but were not offered due to a BLAC director’s or officer’s duties to another entity. BLAC and its management are not aware of any such corporate opportunities not being offered to BLAC and do not believe that the waiver of the corporate opportunity doctrine in the Current Charter interfered with BLAC’s ability to identify an acquisition target, including the decision to pursue the Business Combination with OSR Holdings. During BLAC’s search process, it engaged in discussions with and reviewed multiple prospective businesses, including OSR Holdings, which it began to consider as a target candidate on February 20, 2023. A concern that was expressed repeatedly in formal and informal communications with potential target companies during BLAC’s search process was the general topic of the SPAC -marketworldwide, extremely high investor redemptions, and the appurtenant need to secure PIPE Financing or other alternative financing in order to be able to complete a business combination. In BLAC’s case, PIPE Financing or alternative financing had not been secured or committed to by third parties during the first 12 weeks since its IPO, when BLAC was actively evaluating companies for a business combination. In BLAC’s experience and view, the issues of redemptions and PIPE or alternative financing, and more specifically questions or concerns about BLAC’s ability to raise additional capital in the face of anticipated redemptions, reduced the pool of potential target companies willing to engage in discussions with BLAC. BLAC/OSR Holdings Joint Review of Potential Target Companies As described below, members of BLAC and OSR Holdings (and executives of certain of OSR Holdings’ subsidiaries) jointly reviewed and evaluated target companies’ scientific models, theses and data. These joint exercises were performed for the sake of efficiency and streamlining, and to utilize BLAC and OSR Holdings’ substantial internal resources and expertise. BLAC and OSR Holdings and its subsidiaries’ executives