Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 244

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 244
---
 The BLAC M&A Committee considered the potential conflict of interest that Mr. Hwang and Mr. Whang as part of the BLAC Board owned financial interests in OSR Holdings through their interests in Bellevue Capital Management, LLC, while it also reviewed and analyzed the facts that under Mr. Hwang’s leadership, OSR Holdings had pursued other options to either go public or create liquidity event for its subsidiaries, for instance by developing a discussion with “Sponsor A”, one of the most active SPAC sponsors in Korea measured by the counts of both IPOs and DeSPACs (Daeho Kim, the Internal Comptroller of OSR Holdings is one of the cofounders of Sponsor A) and also by engaging Broker “S”, one of the largest investment banks in Korea for Vaximm’s Korean IPO. With knowledge of, and against the background of the pre -existingoptions, BLAC’s M&A Committee came to the view that the option of a merger with OSR Holdings was worth pursuing, and had the potential of resulting in a mutually beneficial relationship between BLAC and OSR Holdings. The M&A Committee ratified BLAC’s entry into the non -disclosureagreement with OSR Holdings dated March 30, 2023 based upon its analysis and assessment described above, which was rendered as part of the discussions and reviews conducted from the formation of the M&A Committee through to the execution of the non -bindingletter of intent on July 11, 2023, but most prominently on June 18, 2023 when the M&A Committee met to review the draft Letter of Intent (LOI). The Members of the BLAC M&A Committee, in the meeting, recognized that a non -disclosureagreement was in place between BLAC and OSR Holdings and agreed that ratifying the non -disclosureagreement would be in order prior to discussing and reviewing the terms of the LOI. Mr. Hwang continued to serve as an officer and director of both BLAC and OSR Holdings. For BLAC, he participated in evaluating companies as potential businesses combination targets while leading efforts to secure the necessary PIPE financing to complete such a business combination. For OSR Holdings, he continued to lead all operations and executive functions, including assessing potential businesses as acquisition targets to continue building OSR Holdings’ portfolio of healthcare subsidiary companies. As described herein, BLAC began considering OSR Holdings as a target candidate on February 20, 2023. Mr. Hwang, representing BLAC,