Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1417

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 6
Chunk 1417
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 exercisable beginning January 1, 2026, or upon a change in control
of the Company. The remaining 11% of OSR shares are held by stockholders who are not subject to any exchange, put, or call arrangements.
Following the transaction, OSR became a majority-owned subsidiary of the Company. Kuk Hyoun Hwang beneficially owns approximately 67.8%
of the outstanding shares of the Company’s common stock as of the Closing Date.

As of December 31, 2024, the Company had not commenced any operations.
All activity since inception relates to the Company’s formation, the initial public offering (“Initial Public Offering”),
and the search for a target business, which is described below. The Company will not generate any operating revenues until after the completion
of an initial Business Combination, at the earliest. The Company will generate non-operating income in the form of
interest income from the proceeds derived from the Initial Public Offering.

The registration statement
for the Company’s Initial Public Offering (the “Registration Statement”) was declared effective on February 9,
2023. On February 14, 2023, the Company consummated the Initial Public Offering of 6,000,000 units (“Units”
and, with respect to the common stock included in the Units being offered, the “Public Shares”), generating gross proceeds
of $60,000,000, which is described in Note 3.

On February 17,
2023, the underwriters exercised their over-allotment option in full. The closing of the issuance and sale of the additional Units occurred
(the “Over-Allotment Option Units”) on February 21, 2023. The total aggregate issuance by the Company of 900,000 Over-Allotment
Option Units at a price of $10.00 per unit generated total gross proceeds of $9,000,000.

Simultaneously with the
consummation of the Initial Public Offering and the sale of the Units, the Company consummated the private placement (the “Private
Placement”) of 430,000 Units (the “Private Placement Units”), to Bellevue Global Life Sciences Investors LLC
(the “Sponsor”) at a price of $10.00 per Placement Unit, for an aggregate purchase price of $4,300,000. Each Unit and
Private Placement Unit consists of one share of common stock, par value $0.0001 (the