Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1130

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 4
Chunk 1130
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 (i) December 31, 2024 or (ii) 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), BGLSI agrees to forgive the principal balance of the April
17, 2024 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 April 17, 2024 Promissory Note is qualified
in its entirety by reference to the full text of the April 17, 2024 Promissory Note, a copy of which is filed as Exhibit 10.1 to the Company’s
April 17, 2024 Form 8-K and incorporated herein by reference.

107

As previously reported by the Company on Form 8-K dated May 14,
2024, on that date the Company issued an unsecured promissory note in the principal amount of $140,000 (the “May 14, 2024 Promissory
Note”) to Bellevue Global Life Sciences Investors LLC (“BGLSI”), the sponsor of the Company.

The May 14, 2024 Promissory Note is not interest bearing and is
payable in full on the earlier of: (i) December 31, 2024 or (ii) 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), BGLSI 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 May 14, 2024 Promissory Note is qualified in