Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 1687

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 7A
Chunk 1687
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 INC.

(f/k/a Bellevue Life Sciences Acquisition Corp.) 

NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2024

Any of the above mentioned
factors, or any other negative impact on the global economy, capital markets or other geopolitical conditions resulting from the Russian
invasion of Ukraine, the escalation of the Israel-Hamas conflict and subsequent sanctions or related actions, could adversely affect the
Company’s search for an initial business combination and any target business with which the Company may ultimately consummate an
initial business combination.

The excise tax included in the Inflation Reduction
Act of 2022 may decrease the value of the Company’s securities following its initial business combination, hinder its
ability to consummate an initial business combination, and decrease the amount of funds available for distribution in connection with
a liquidation.

NOTE 6–COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION 

The Company’s common
stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of
uncertain future events. Accordingly, common stock subject to possible redemption is presented at redemption value as temporary equity,
outside of the stockholders’ deficit section of the Company’s consolidated balance sheets.

The following is a reconciliation
of the Company’s common stock subject to possible redemption as of December 31, 2024:

    Common 

    Stock 

    Subject to 

    Possible 

    Redemption 
  
    Gross proceeds from Initial Public Offering 
    $69,000,000 
  
    Less: Proceeds allocated to public warrants and rights 
     (1,236,527)
  
    Offering costs allocated to common stock subject to possible redemption 
     (4,791,126)
  
    Less: Redemption of common stock in connection with Trust extension 
     (35,995,728)
  
    Plus: Accretion on common stock subject to possible redemption 
     9,449,634 
  
    Balance, December 31, 2023 
     36,426,253 
  
    Less: Redemption of common stock in connection with Trust extension 
     (36,232,029)
  
    Plus: Accretion on common stock subject to possible redemption 
     1,653,419 
  
    Balance, December 31, 2024 
    $1,847,643 

NOTE 7–STOCKHOLDERS’ DEFICIT