Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 243

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 243
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 and consultants together comprise a roster of experienced scientists and medical doctors. BLAC and OSR Holdings executives likewise have extensive experience in the Korean, U.S. and European capital markets and/or the biotech/biopharma industry. In addition to the benefit of BLAC and OSR Holdings members’ and consultants’ substantial collective experiences, given the short timeline 145 for BLAC to execute a business combination, utilizing the collective internal resources of BLAC and OSR Holdings was the most time and cost -efficientmanner in which to evaluate potential target companies. In evaluating potential target companies together, BLAC management and the BLAC Board worked closely with individuals at OSR Holdings who have experience in the biotechnology and biopharmaceutical industries to assist with performing scientific due diligence on potential target companies, including evaluating their asset pipelines, drug candidates, products, and the biopharmaceutical and biotechnology expertise of the target companies’ management and team members, as applicable. Kuk Hyoun Hwang is Chief Executive Officer and a Director of BLAC and was Chief Executive Officer of OSR Holdings from July 2019 to April 2021 and from December 2022 to August 2024 and has served as Chairman since July 2019. Due to the inherent conflict of interest presented by Mr. Hwang’s dual roles, the BLAC Board formed a special committee (the “ BLAC M&A Committee”) on June 9, 2023 consisting of members of the BLAC Board that do not have any financial or other interest in OSR Holdings, from which Mr. Hwang was recused, and through which approval would be sought to pursue any business combination transaction, as well as other subsequent decisions to be taken by the BLAC M&A Committee, including the ratification of actions taken by the BLAC Board and management prior to June 9, 2023. The BLAC M&A Committee was originally comprised of three independent members of the BLAC Board, Dr. Reed, Dr. Roberts and Mr. Park. Upon the resignations of Dr. Reed and Dr. Roberts in May 2024 and June 2024, respectively, Mr. Lee and Mr. Kim joined the BLAC M&A Committee. The BLAC M&A Committee ratified BLAC’s entry into a non -disclosureagreement with OSR Holdings, dated March 30, 2023, and subsequently approved BLAC’s entry into a letter of intent between BLAC and OSR Holdings dated July 11, 2023.