Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 93

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 93
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 to time with the SEC, for a more detailed discussion of certain risks that could materially adversely affect our financial conditions and the market price of our securities. The following list describes some of the principal risk factors applicable to the Business Combination, BLAC, OSR Holdings and New OSR Holdings: Risks Related to the Business Combination and Business Combination Agreement •If the Business Combination is not approved or if for any reason the Business Combination does not close within the time frame for completing the Business Combination, BLAC would cease all operations except for the purpose of winding up and BLAC would be required to redeem its public shares and, subject to approval of the remaining stockholders and the BLAC Board in accordance with applicable law, dissolve and liquidate (subject in each case to BLAC’s obligations under the DGCL to provide for claims of creditors and other requirements of applicable law), in which case BLAC’s public stockholders may only receive $[•] per share, or less than such amount in certain circumstances, and BLAC’s warrants and rights will expire worthless. 41 •BLAC’s Chief Executive Officer and one of our directors was previously the Chief Executive Officer and is currently the Chairman of the Board of OSR Holdings. These dual positions (i) create conflicts of interest in the performance of his duties; and (ii) may provide for him to receive compensation following the Business Combination that amplifies his conflicts of interest in determining whether the transaction is the most advantageous. •Toonon, the investor in the PIPE Investment, has indicated that the PIPE Investment will not close at the closing of the Business Combination. As a result, BLAC will not receive $20million in cash at the closing of the Business Combination and BLAC will not meet the Minimum Cash Condition for closing of the Business Combination. This means that New OSR Holdings will be insolvent at the closing of the Business Combination and will not have enough cash to fund its operations or pay its outstanding expenses and debts unless and until the PIPE Investment closes. BLAC believes the PIPE Investment will close by February28, 2025, but there is no guarantee that the PIPE Investment close by such date or that it will ever close. If New OSR Holdings is unable to close the PIPE Investment or secure additional financing within a short period of time following the closing of the Business Combination, OSR Holdings could face claims from creditors that could cause voluntary or involuntary bankruptcy proceedings, in which case, the value of the stock of New OSR Holdings would likely be worthless. •The Sponsor and BL