Company: OSRH
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045947
Chunk: 321

Company: OSR Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 321
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-Participating Stockholder is notified by the Company of a transaction that will result
in a change in control (as defined in the Non-Participating Joinder) of the Company (the “Trigger Date”). The Put
Right and Call Right terminate and expire 120 days after the Trigger Date. The exchange ratio is fixed under the put/call rights
at the same exchange ratio set forth in the Business Combination Agreement, and there is no option for cash settlement. Holders of approximately
11% of the outstanding OSR Common Stock did not sign a Joinder and will continue to hold their shares of OSR Common Stock, and such shares
will not be subject to any contractual put or call rights, or other conversion rights, with or into Company Common Stock.

As
of the Closing Date, Kuk Hyoun Hwang beneficially held approximately 67.8% of the outstanding shares of the Company Common Stock.

Prior
to the Closing Date, the Company entered into participating joinders (the “Participating Joinders”) with the Participating
Stockholders, pursuant to which the Company issued an aggregate of 16,282,047 shares of Company Common Stock to the Participating Stockholders
in exchange for an aggregate of 1,256,085 shares of OSR Common Stock, or approximately 67% of the outstanding shares of OSR Common Stock.
Pursuant to the Participating Joinders, the Participating Stockholders became party to the Business Combination Agreement with all attendant
rights, duties and obligations (including in respect of all of the representations, warranties, covenants, agreements and conditions
of the Business Combination Agreement), with the same force and effect as if originally named as a “Participating Company Stockholder”
in the Business Combination Agreement.

The
Participating Joinders contain customary representations, warranties and covenants, and include a general release of all claims against
the Company, OSR and each of its and their respective affiliates, successors, assigns, officers, directors, employees, agents, administrators
and trustees.

28

The
foregoing summary is subject to and qualified in its entirety by reference to the Form of Participating Joinder, which is filed hereto
as Exhibit 10.1 to the Company’s February 21, 2025 8-K Filing.

Prior
to the Closing Date, the Company entered into non-participating joinders (the “Non-Participating Joinders” and, together