Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 495

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 495
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 affect BLAC’s compliance with Nasdaq requirements. Recent Promissory Notes On April 8, 2024 and April 17, 2024, BLAC issued unsecured promissory notes to Sponsor in the aggregate principal amount of $1,250,000 (the “April Sponsor Notes”). On May 14, 2024, BLAC issued an unsecured promissory note to the Sponsor (the “May Sponsor Note”) in the principal amount of $140,000. On July 11, 2024, BLAC issued to the Sponsor an unsecured promissory note (the “July Sponsor Note” and together with the April Sponsor Notes and 313 the May Sponsor Note, the “Sponsor Notes”) in the principal amount of $300,000 to the Sponsor. The Sponsor Notes do not bear interest and are payable in full on the earlier of (i) December 31, 2024 or (ii) the date on which BLAC consummates an initial business combination. In the event that BLAC does not consummate a business combination on or prior to the time provided in the Current Charter (as subject to extension), the Sponsor agrees to forgive the principal balance of the Sponsor Notes, except to the extent of any funds remaining outside of BLAC’s Trust Account. The following events constitute an event of default under the Sponsor Notes: (i) a failure to pay the principal within five business days of the maturity date and (ii) the commencement of a voluntary or involuntary bankruptcy action. The April Sponsor Notes, the May Sponsor 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,