Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1290

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 5
Chunk 1290
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of the net proceeds of the Initial Public Offering and the sale
of Private Placement Units, although substantially all of the net proceeds are intended to be applied generally toward consummating a
Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company
must complete one or more initial Business Combinations having an aggregate fair market value of at least 80% of the assets held
in the Trust Account (as defined below) (excluding the amount of deferred underwriting fees and taxes payable on income earned on the
Trust Account) at the time of the agreement to enter into the initial Business Combination. However, the Company will only complete
a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of
the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment
company under the Investment Company Act of 1940, as amended (the “Investment Company Act”).

F-7

OSR HOLDINGS, INC.

(f/k/a Bellevue Life Sciences Acquisition Corp.) 

NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

Upon closing of the
Initial Public Offering, the Private Placement, the sale of the Over-Allotment Option Units and the additional Trust Account
funding, a total of $70,207,500 was placed in a trust account (“Trust Account”) located in the United States with
Continental Stock Transfer & Trust Company acting as trustee, and invested only in United States “government
securities” within the meaning of Section 2(a)(16) of the Investment Company Act 1940, as amended (the “Investment
Company Act”) having a maturity of 185 days or less or in money market funds meeting certain conditions
under Rule 2a-7 promulgated under the Investment Company Act which invest only in direct U.S. government
treasury obligations, as determined by the Company, until the earlier of (i) the completion of a Business Combination and
(ii) the distribution of the Trust Account as described below.

The Company will provide its holders of the
outstanding shares of its Common Stock sold in the Initial Public Offering (the “Public Stockholders”) with the opportunity
to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i)