Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 215

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1
Chunk 215
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 on April 8, 2024, on that date the Company issued an unsecured promissory note in the principal amount of $1,200,000 to Bellevue
Global Life Sciences Investors, LLC (“BGLSI”), the sponsor of the Company. On April 9, 2024, $60,000 was deposited
in the trust account in connection with the extension of the date by which the Company must consummate a business combination from April
15, 2024 to May 14, 2024.

The BGLSI 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 BGLSI Promissory Note is qualified in its entirety by reference to
the full text of the Note, a copy of which is filed as Exhibit 10.1 to the Company’s April 8, 2024 Form 8-K and incorporated herein
by reference.

As previously reported by the Company on Form 8-K dated April 17,
2024, on that date the Company issued an unsecured promissory note in the principal amount of $50,000 (the “April 17, 2024
Promissory Note”) to Bellevue Global Life Sciences Investors LLC (“BGLSI”), the sponsor of the Company.

The April 17, 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