Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 11

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 11
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 of BLAC Common Stock into an escrow account, to be governed by a separate escrow agreement to be entered into between Duksung and BCME. BCME and Duksung intend to enter into the escrow agreement following closing of the Business Combination. BCME did not receive separate consideration for its covenant to enter into the escrow arrangement other than the indirect benefit it receives as being an affiliate of the Sponsor and shareholder of OSR Holdings. On October 25, 2024, BLAC advanced a loan to OSR Holdings in the amount of $300,000 evidenced by a promissory note (the “OSR Holdings Promissory Note”) that bears interest at a rate of 3.96% per annum, compound semi -annually, and is due on October 25, 2025 (the “OSR Note Maturity Date”). Interest is payable only on maturity. The following events constitute an event of default under the OSR Holdings Promissory Note: (i) a failure to pay the outstanding balance due within five (5) business days of the OSR Note Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy action. The funds are to be used by OSR Holdings for working capital and other expenses of OSR Holdings. In addition to the Business Combination Proposal, you will also be asked to consider and vote upon (a) the adoption of BLAC’s Second Amended and Restated Certificate of Incorporation (the “ Amended Charter”), which will amend and restate the existing Amended and Restated Certificate of Incorporation of BLAC, as amended (the “ Current Charter”), in its entirety, which proposed adoption of the Amended Charter is referred to herein as the “ Charter Proposal,” (b) on a non -bindingadvisory basis, six separate governance proposals relating to material differences between the Current Charter and the Charter Proposal to be in effect upon the completion of the Business Combination in accordance with the requirements of the U.S. Securities and Exchange Commission (the “ SEC”). These proposals are referred to as the “ Advisory Governance Proposals” or “ Advisory Proposals 3A-3F,” (c) a proposal to approve and adopt the Omnibus Plan in form and substance reasonably acceptable to BLAC and OSR Holdings, a copy of which is attached to the accompanying proxy statement as Annex H, which is referred to herein as the “ Incentive Plan Proposal,” (d) a proposal to elect up to nine (9) directors