Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 552

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1B
Chunk 552
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 of the Series A Preferred Stock contained in the Certificate of Designations
that, pursuant to the closing of the PIPE Investment, the Company intended to file with the Secretary of State of the State of Delaware.
The foregoing description of the First Amendment does not purport to be complete and is qualified in its entirety by reference to the
full text of the First Amendment, a form of which is attached as Exhibit 10.1 to the Company’s Form 8-K filed December 17, 2024,
and the terms of which are incorporated herein by reference.

Toonon has exercised its right to cancel the transaction citing macroeconomic
factors in Korea unrelated to the Company. This loss of expected financing has made it necessary for the Company to seek alternative
funding from other sources to sustain its operations and business plans, including the ELOC Agreement described in this section below.

ELOC Agreement

As previously disclosed on the Company’s
Current Report filed on Form 8-K on February 28, 2025, on February 25, 2025 the Company entered into a common stock purchase agreement
(the “Common Stock Purchase Agreement”) and a related registration rights agreement (the “White Lion RRA”)
with White Lion GBM Innovation Fund (“White Lion”). Capitalized terms used but not defined herein shall have the meanings
ascribed to such terms in the Common Stock Purchase Agreement.

Pursuant to the Common Stock Purchase Agreement,
following its closing and following the effective date of a resale registration statement registering the shares issuable to White Lion
in accordance with the terms of the White Lion RRA, the Company has the right, but not the obligation, to require White Lion to purchase,
from time to time, up to the lesser of (i) $80,000,000 in aggregate gross purchase price of newly issued shares of the Company’s
common stock, par value $0.0001 per share (the “Common Stock”), and (ii) the Exchange Cap, in each case, subject to certain
limitations and conditions set forth in the Common Stock Purchase Agreement.

The number of shares of Common Stock that the
Company may require White Lion to purchase in any single sales notice will depend on a number of factors, including the type of purchase
notice that the Company delivers to White Lion. For example: (1) if the Company were to deliver a Rapid Purchase Notice, the Company can
require White Lion to purchase a number of shares equal to $2,000,000 divided by the average of the