Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 266

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 266
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ok Kim and Taemin Lee. Mr. Hwang, representing BLAC, announced BLAC’s intent to seek a business combination with OSR Holdings, subject to approval by the BLAC Board. OSR Holdings members informed Mr. Hwang that, after careful consideration of all the factors regarding a business combination with BLAC discussed over the course of the past several months, they agreed in principle to pursue discussions for a business combination with BLAC. May 18 and 19, 2023 By emails on May 18 and19, 2023, Tom Shin emailed five US -basedinvestment banking and financial advisory firms for a possible engagement by BLAC to provide a fairness opinion on a potential business combination between BLAC and OSR Holdings. After initial introductions and discussions, BLAC came to the view that none of these firms possessed the necessary expertise and qualifications to analyze foreign companies and their business structures and strategies, and more specifically, to analyze them within the context of the regulatory environments pharmaceutical research and development and distribution of medical device products (as in the case of OSR Holdings’ subsidiary RMC). As none of OSR Holdings’ subsidiaries, their businesses and customers are in the US, BLAC came to the decision that it should expand its search to look for valuation consulting companies with global exposure and experience, with a strong emphasis in the area of biopharmaceuticals, and informed OSR Holdings members of this decision. May 22, 2023 At OSR Holdings’ weekly Monday morning meeting on May 22, 2023, Mr. Hwang suggested to OSR Holdings that BLAC would report to the BLAC Board with the following items: 1) a proposed Non -BindingLetter of Intent, 2) Business Combination Timeline (including potential need to request BLAC stockholder approval to 156 extend the period for completion of the Business Combination), 3) Corporate slides of OSR Holdings, and 4) third party valuation reports on Vaximm (dated December 5, 2022) and Darnatein (dated July 2022) as reference points for the BLAC Board to consider. See “The Business Combination — The BLAC M&A Committee’s Reasons for the Approval of the Business Combination”for a detailed discussion on the material findings made in connection with due diligence of OSR Holdings, including with respect to the third -partyvaluation and fair market value reports, and the information contained in the OSR Holdings presentation. May 24, 2023 By email