Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 2122

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 9B
Chunk 2122
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 held outside of the
Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless.

In addition, if (x) the Company issues additional
shares of Common Stock or equity-linked securities for capital raising purposes in connection with the closing of its initial business
combination at an issue price or effective issue price of less than $9.50 per share of Common Stock (with such issue price or effective
issue price to be determined in good faith by the Company’s Board), (y) the aggregate gross proceeds from such issuances represent
more than 60% of the total equity proceeds, and interest thereon, available for the funding of the initial business combination (net
of redemptions), and (z) the Market Value is below $9.50 per share, the exercise price of the warrants will be adjusted (to
the nearest cent) to be equal to 115% of the Market Value, and the $16.50 per share redemption trigger price described above
will be adjusted (to the nearest cent) to be equal to 165% of the Market Value.

Equity Participation Shares 

The Company agreed to
issue to the underwriters at the closing of the Initial Public Offering up to 34,500 Equity Participation Shares, including
over-allotment, which will be issued upon the completion of the Initial Business Combination. If the over-allotment option is not exercised
in full, the Equity Participation Shares will be reduced pro rata.

F-22

OSR HOLDINGS, INC.

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

NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

The Company complies with the requirements
of ASC 340-10-S99-1 and SEC SAB Topic 5A. Offering costs consist principally of professional and registration
fees incurred through the date of the consolidated financial statements that are related to the Initial Public Offering. Offering
costs directly attributable to the issuance of an equity contract to be classified in equity are recorded as a reduction in equity.
Offering costs for equity contracts that are classified as assets and liabilities are expensed immediately.

Rights 

Except in cases where the Company is not the surviving
company in a business combination, each holder of a right will automatically receive one-tenth (1/10) of a share of
common stock upon consummation of its initial business