Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 455

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 455
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 2024) bearing annual interest of 5.5%; (2) $300,000 (of which only $250,000 was borrowed) due November 7, 2025 bearing interest of 3.0%; and (3) $750,000 due March 24, 2025 ($2000 of which was repaid in 2024) bearing interest of 3.0%; and (b) a promissory note by which OSR Holdings borrowed $300,000 from BLAC due October 25, 2025 bearing interest of 3.96%. Each of the loans is unsecured and were for working capital purposes, including providing working capital to subsidiaries. OSR Holdings has incurred net losses each year since inception except for 2022 when OSR Holdings recorded a net profit of KRW 1.3 billion due to a one -timegain (non -cash) on the exchange of the 1,750 BCME preference shares for shares of Vaximm. OSR Holdings’ net loss in 2021 was KRW 634.35 million. OSR Holdings recorded a net profit of KRW 1.34 billion in 2022 and a net loss of KRW 13.09 billion for the year ended December 31, 2023. OSR Holdings recorded a net loss of KRW 8.9 billion for the six months ending June 30, 2024. New OSR Holdings expects to continue to incur significant losses for the foreseeable future due mainly to its R&D expenses and working capital requirements as its subsidiaries continue to ramp up their development activities. As of June 30, 2024, OSR Holdings had an accumulated deficit of KRW 21.14 billion. 288 OSR Holdings expects its operating expenses to increase significantly in the second half of 2024 largely due to increased legal and other expenses incurred in connection with the Agreement and to a lesser extent the cost of product revenue. New OSR Holdings expects its operating expenses to increase further in 2025 as its subsidiaries continue to develop their pipelines of pre -clinicaland clinical product candidates, while New OSR Holdings continues to identify and invest in startup and/or acquisition opportunities in the global healthcare sector. In addition, New OSR Holdings expects its selling, general and administrative expenses to increase beginning in 2024, after closing of the Business Combination, due to modest increases in headcount along with anticipated expenses associated with becoming a public company. New OSR Holdings expects