Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 509

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 509
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 event of default: (i) a failure to pay the principal within five business days of the July Sponsor Note Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy action. The July Sponsor Note was amended on January9, 2025 to extend the July Sponsor Note Maturity Date to the earlier of: (i) September30, 2025 or (ii) the date on which BLAC consummates an initial business combination. The July Sponsor Note was amended on January23, 2025 to amend its maturity date to September30, 2025. As of the date of this proxy statement/prospectus, the outstanding balance of the July Sponsor Note is $280,000. 320 On October 10, 2024, BLAC issued an unsecured promissory note (the “October Note”) in the principal amount of $40,000 to Mr. Whang, a member of the Company’s Board. The October Note is not interest bearing and is payable in full on the earlier of: (i) November 9, 2024, (ii) at such time BLAC raises additional working capital funds, or (iii) the date on which BLAC consummates an initial business combination (the “October Note Maturity Date”). In the event that BLAC does not consummate a business combination on or prior to the time provided in the Current Charter (as subject to extension), Mr. Whang agrees to forgive the principal balance of the October Note, except to the extent of any funds remaining outside of BLAC’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 October Note Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy action. BLAC repaid the October Note on October 28, 2024. On October 25, 2024, BLAC advanced a loan to OSR Holdings in the amount of $300,000 evidenced by a promissory note (the “OSR Holdings Promissory Note”) that bears interest at a rate of 3.96% per annum, compound semi -annually, and is due on October 25, 2025 (the “OSR Note Maturity Date”). Interest is payable only on maturity. The following events constitute an event of default under the OSR Holdings Promissory Note: (i) a failure to pay the outstanding balance due within five (5) business