Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 500

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 500
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AC does not expect to seek loans from parties other than its Sponsor, officers and directors or their affiliates as BLAC does not believe third parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our Trust Account. Loans made by Chardan, the representative of the underwriters in connection with BLAC’s IPO, or any of its related persons, if any, will not be convertible into any of our securities and Chardan and its related persons will have no recourse with respect to their ability to convert their loans into any of our securities. Based on the foregoing and the limited amount of working capital that BLAC received into the operating account from the private placement, management believes that BLAC will not have sufficient working capital to meet its working capital needs through the earlier of the consummation of an initial business combination or 24 months from the IPO (unless such date is extended in accordance with the Existing Governing Documents). These conditions raise substantial doubt about BLAC’s ability to continue as a going concern. Over this time period, BLAC will be using the remaining funds held outside of the Trust Account for paying existing accounts payable, paying for travel expenditures, and structuring, negotiating and consummating the initial business combination. Further needs for operating capital beyond BLAC’s current operating cash balance may need to be funded through loans from BLAC’s Sponsor. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. If BLAC is unable to complete a business combination by February 14, 2025 (unless such date is extended in accordance with the Existing Governing Documents), BLAC will cease all operations except for the purpose of liquidating. This date for mandatory liquidation and subsequent dissolution combined with uncertainty as to whether BLAC has sufficient liquidity to fund operations through the liquidation date or thereafter should a deferral occur raises substantial doubt about BLAC’s ability to continue as a going concern. Management intends to complete a business combination. Off-Balance Sheet Arrangements BLAC has no obligations, assets or liabilities which would be considered off -balancesheet arrangements as of September 30, 2024. BLAC does not participate in transactions that create relationships with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established for the purpose of facilitating off -balancesheet arrangements. BLAC has not entered into any off -balancesheet financing arrangements, established any special purpose entities, guaranteed any debt or commitments of