Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 265

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 265
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. Hwang convened a meeting with OSR Holdings executives Sung Hoon Chung, Sung Jae Yu and Soo Eun Nam to inform them that BLAC had received advice on conducting a business combination with an affiliated company. Mr. Hwang said that, along with continuing to review other potential targets, BLAC would also continue to explore conducting a business combination with OSR Holdings. 154 April 21, 2023 On April 21, 2023, following up from the weekly meeting held on April 17, the OSR Holdings’ management discussed with Mr. Hwang their findings from the research into biopharma companies’ share trading performance after going public via de -SPACtransaction. OSR Holdings team’s research indicated that several companies in this group had issued their PIPE shares at deep discounts against the new issuance price for their business combinations resulting in poor stock performances. To OSR Holdings management, this research suggested a risk (if BLAC were to issue their PIPE shares at a deep discount) that would have to be considered, should they agree to a transaction with BLAC compared to a traditional IPO on KOSDAQ. In addition, given that the market sentiment was still not very favorable to clinical -stagebiotech businesses developing R&D pipelines, OSR Holdings management informed Mr. Hwang that they would factor these findings into a decision regarding a business combination between BLAC and OSR Holdings. April 25, 2023 BLAC and OSR Holdings members (Kuk Hyoun Hwang, Sung Hoon Chung, Tom Shin, and Jun Whang) participated in a video conference with all current executive members of LBV: Zaki Sellam (Chief Executive Officer), Gary Brandam (Chief Operating Officer), Jacques Bauer (Chief Dev. Officer and Head of Intellectual Property), Mehdi Chelbi (Chief Business Officer), and Samson Fung (Chief Medical Officer). May 1, 2023 At OSR Holdings’ weekly Monday morning meeting on May 1, 2023, Mr. Hwang, representing BLAC, informed OSR Holdings executives Sung Hoon Chung, Sung Jae Yu and Soo Eun Nam that BLAC had communicated through Mr. Whang on April 27, 2023 that BLAC would not be pursuing a business combination with Company A, and informed Company C of the same on a video conference call on Friday, April 28, 2023. Mr. Hwang informed OSR Holdings that BLAC would most likely be pursuing a business combination with