Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 988

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 3
Chunk 988
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in the Omnibus Plan. As of January 29, 2025, there are 26 employees or directors that are eligible to participate in the Omnibus
Plan, but we expect that 17 employees, including each of the Company’s named executive officers, and approximately 9 non-employee directors,
consultants, and advisors of the Company will be eligible to participate in the Omnibus Plan after the consummation of the Business Combination.
Only the Company’s employees or employees of the Company’s corporate subsidiaries are eligible to receive incentive stock
options.

104

The Omnibus Plan became effective on January 29, 2025, the date it
was adopted by the Company Board (the “Effective Date”). The Omnibus Plan will terminate automatically at 11:59PM ET on the day
before the tenth (10th) anniversary of the Effective Date unless earlier terminated by the Board or in accordance with the
terms of the Omnibus Plan.

Changes in Control 

None.

Item 13.	 Certain Relationships and Related Transactions,
and Director Independence 

On July 30, 2020, we issued an aggregate of 1,437,500 founder
shares to our Sponsor for an aggregate purchase price of $25,000 in cash, or approximately $0.017 per share. On April 25, 2022, we
executed a stock split, resulting in an aggregate of 1,725,000 founder shares held by our Sponsor (of which up to 225,000 shares were
subject to forfeiture in the event the underwriter’s Over-Allotment Option was not exercised in full). At the closing of our IPO,
our Sponsor transferred 20,000 founder shares to each of our directors and 20,000 placement warrants each to our directors who are serving
as our Chairman of the Board of Directors and the chair of our audit committee. On March 23, 2023, our Sponsor also transferred 20,000
founder shares and 20,000 placement warrants to Mr. Yoo for his service as Chief Financial Officer.

Our Sponsor purchased an aggregate of 430,000 Private Placement Units
at a price of $10.00 per unit, for an aggregate purchase price of $4,300,000, at the closing of our IPO. There will be no redemption rights
or liquidating distributions from the Trust Account with respect to the founder shares or placement shares, and the placement warrants
and placement rights will expire worthless if we