Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1394

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 6
Chunk 1394
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 unsecured promissory note (the “October 10, 2024 Promissory Note”) in
the principal amount of $40,000 to Jun Chul Whang, a member of the Company’s Board.

The October 10, 2024 Promissory Note is not interest bearing and is payable
in full on the earlier of: (i) November 9, 2024, (ii) at such time the Company raises additional working capital funds, or
(iii) the date on which the Company consummates an initial business combination. In the event that the Company does not consummate
a business combination on or prior to the time provided in the Company’s Amended and Restated Certificate of Incorporation (as
subject to extension), Mr. Whang agrees to forgive the principal balance of the Promissory Note, except to the extent of any funds
remaining outside of the Company’s trust account, if any. The following shall constitute an event of default: (i) a failure
to pay the principal within five business days of the Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy
action. The foregoing description of the Promissory Note is qualified in its entirety by reference to the full text of the Promissory
Note, a copy of which is filed as Exhibit 10.1 to the Company’s October 10, 2024 Form 8-K and incorporated herein by
reference.

As previously reported by the Company on Form 8-K dated September 20,
2024, on that date the company and Mr. Whang entered into an amendment (the “Whang Promissory Note Amendment”)
to extend the maturity date of the Whang Promissory Note to the earlier of (i) March 31, 2025 and (ii) the date on which
the Company consummates an initial business combination. No other terms of the Whang Promissory Note were amended. The foregoing description
of the Whang Promissory Note Amendment is qualified in its entirety by reference to the full text of the amendment, a copy of which is
filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

As previously reported by the Company on Form 8-K dated September 20,
2024, on that date the company and Mr. Pan entered into an amendment (the “Pan Promissory