Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 224

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 224
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 it is expected that holders of up to an additional 28% of the shares of OSR Holdings Common Stock will enter into Non -ParticipatingStockholder Joinders, giving BLAC direct ownership or rights to acquire up to 88% of the shares of OSR Holdings Common Stock on the Closing Date. BLAC expects that holders of approximately 12% of the OSR Holdings Common Stock will not sign any Joinder and such shares will remain outstanding and not be subject to any contractual put or call rights, or other conversion rights, with or into BLAC Common Stock. At Closing, the Non -ParticipatingCompany Stockholders will continue to hold their shares of OSR Holdings Common Stock subject to the terms of the Non -ParticipatingStockholder Joinders that contain put and call rights whereby the Non -ParticipatingCompany Stockholder shall have the right to cause BLAC to purchase and BLAC shall have the right to cause the Non -ParticipatingCompany Stockholder to sell to BLAC or its designee all of the shares of OSR Holdings Common Stock owned and held of record by such Non -ParticipatingCompany Stockholder in exchange for the number of shares of BLAC Common Stock set forth in each applicable Non -ParticipatingShareholder Joinder. These rights become exercisable on or after the earlier of (i) January 1, 2026, or (ii) the date that the Non -ParticipatingCompany Stockholder is notified by BLAC of a transaction that will result in a change in control (as defined in the Non -ParticipatingStockholder Joinder) of BLAC (the “Trigger Date”). The Put Right and Call Right terminate and expire 120 days after the Trigger Date. The exchange ratio is fixed under the put/call rights at the same exchange ratio set forth in the Business Combination Agreement, and there is no option for cash settlement. There is no specified maximum redemptions threshold stipulated under the Business Combination Agreement. Given that BLAC’s Public Stockholders may elect to redeem their public shares for cash even if they approve the Business Combination, this unaudited pro forma condensed combined information assumes that they redeem all of the shares subject to redemption in the preparation of the unaudited pro forma condensed combined financial statements under the Maximum Redemptions scenario. Three scenarios are considered in the unaudited pro forma condensed combined financial information presentation herein: •Assuming No Redemptions — This scenario assumes that none of the BLAC’s Public Stockholders