Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 819

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 2
Chunk 819
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 under the
Investment Company Act which invest only in direct U.S. government treasury obligations.

We used substantially all of the funds held in the Trust Account, including
any amounts representing interest earned on the Trust Account (less deferred underwriting commissions), to complete our initial business
combination. We may withdraw interest to pay taxes. We estimate our annual franchise tax obligations, based on the number of authorized
shares of our common stock, to be $200,000, which is the maximum amount of annual franchise taxes payable by us as a Delaware corporation
per annum, which we may pay from funds held outside of the Trust Account or from interest earned on the funds held in our Trust Account
and released to us for this purpose. Our annual income tax obligations
will depend on the amount of interest and other income earned on the amounts held in the Trust Account. We expect the interest earned
on the amount in the Trust Account will be sufficient to pay our income taxes. To the extent that our capital stock or debt is used, in
whole or in part, as consideration to complete our initial business combination, the remaining proceeds held in the Trust Account will
be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth
strategies.

As of December 31, 2024, the Company had $66,135 in its operating
bank account and a working capital deficit of $6,263,411. The Company’s liquidity needs prior to the consummation of our IPO had
been satisfied through proceeds from advances from related party and from the issuance of common stock. Subsequent to the consummation
of our IPO, the Company’s liquidity was satisfied through the net proceeds from the consummation of the IPO, the proceeds from the
Private Placement Units held outside of the Trust Account and loans from the Sponsor, officers and directors and their affiliates.

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In order to fund working capital deficiencies or finance transaction
costs in connection with our initial business combination, our Sponsor, officers and directors or their affiliates may, but are not obligated
to, loan us funds as may be required. Up to $1,000,000 of such loans may be convertible into Units, at a price of $10.00 per unit at the
option of the lender, upon consummation of our initial business combination. The Units would be identical to the Private Placement Units.
We do not expect to seek loans from parties other than our Sponsor, officers and directors