Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 494

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 494
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 Note and the July Sponsor Note were amended on January9, 2025 to extend their respective maturity dates to the earlier of: (i) September30, 2025 or (ii) the date on which BLAC consummates an initial business combination. The April Sponsor Notes, the May Sponsor Note and the July Sponsor Note were amended on January23, 2025 to amend their respective maturity dates to September30, 2025. On October 10, 2024, BLAC issued an unsecured promissory note to Jun Chul Whang, a member of the BLAC Board (the “JCW Promissory Note”) in the principal amount of $40,000 to Mr. Whang for its receipt of $40,000 to fund working capital and other expenses of BLAC. The JCW Promissory Note is non -interestbearing 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. In the event that BLAC does not consummate an initial business combination on or prior to the time provided in the Current Charter, as amended, Mr. Whang agrees to forgive the principal balance of the JCW Promissory Note, except to the extent of any funds remaining outside of the Trust Account, if any. As a result of raising additional working capital funds through the Duksung Promissory Note, BLAC repaid the JCW Promissory Note in full on October 28, 2024. On October 16, 2024, BLAC issued the Duksung Promissory Note in the principal amount of $800,000. The Duksung Promissory Note contains customary representations, warranties and covenants of BLAC and Duksung and bears interest at a simple rate of 5% per annum; provided, however, solely for purposes of prepayment pursuant to a redemption of the Duksung Promissory Note, interest shall be deemed to have accrued at a simple rate of 7% per annum, and, unless earlier converted or redeemed, is payable in full on October 15, 2025. In the event of, and simultaneously with the closing of a Qualified PIPE Financing (as defined in the Duksung Promissory Note), the Duksung Promissory Note automatically converts into BLAC common stock in an amount equal