Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 221

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 221
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 or know -how, and a third party may subsequently file a patent application covering such intellectual property. Should any of these events occur, they could significantly harm our business and results of operations. 119 UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION Introduction On May 23, 2024, BLAC and OSR Holdings entered into an Amended & Restated Business Combination Agreement. The Amended and Restated Business Combination Agreement was amended on December 20, 2024. The following unaudited pro forma condensed combined financial information (the “ Pro Forma Information”) gives effect to the Business Combination and the other events described below. The Business Combination will be accounted for as a reverse recapitalization in accordance with U.S. GAAP and ASC which is the current single source of U.S. GAAP. Under this method of accounting, BLAC will be treated as the “acquired” company and OSR Holdings will be considered the accounting acquirer for accounting purposes as set forth by the guidance in ASC 805 -10. This conclusion is supported by the voting interest model referenced in ASC 805 -10-55-12as 82.3% (no redemption), 82.7% (50% redemption) and 83.1% (maximum redemption) of the voting interest scenarios in New OSR Holdings which will be held by the historical shareholder group of OSR Holdings. Further, BCM and its affiliates are the largest single owner of shares of OSR Holdings, and will also be the largest single owner of shares in the Combined Company in each of the no redemption, 50% redemption, and maximum redemption scenarios. The stockholders of OSR Holdings will have sufficient voting power to elect or remove a majority of the board of directors of the Combined Company. The compositions of the governing body and senior management team of the combined entity present a less defined indicator as Kuk Hyoun Hwang is an officer and director of BLAC and Chairman of the Board of OSR Holdings. Kuk Hyoun Hwang served as CEO of OSR Holdings from July 2019 until August 2021 and from December 2022 to August 2024. No other officers of BLAC will be officers of the Combined Company. The composition of New OSR Holdings is being negotiated by Kuk Hyoun Hwang who represents both BLAC and OSR Holdings so that it is difficult to conclude that one party controls the appointment of the directors of the Combined Company. Accordingly, given