Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 897

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 897
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 Business Combination ”) pursuant to the Amended and Restated Business Combination Agreement dated May 23, 2024 executed between BLAC and OSR (the “ Business Combination Agreement ”). Capitalized terms used but not defined herein, have the meanings assigned to them in the Business Combination Agreement. The Company is a healthcare holding company headquartered in South Korea utilizing a “Hub-and-Spoke” business model with centralized portfolio management team (at the parent company) through which it conducts operations through three subsidiary entities which are emerging biotech and medtech companies in South Korea as well as in Switzerland. Table of Content 1. No conflict of interest 2. Scope of the Fairness Opinion 3. The Transaction subject to the Fairness Opinion 4. OSR business model and comparable companies 5. Fairness Opinion in connection with the Investment Criteria 6. Fairness Opinion in connection with the Value of the Aggregate Consideration 1.No conflict of interest Choloc has no present or contemplated material interest in the business or assets that are the subject of this report and has never received any form of compensation from OSR in the past. We have no personal interest or bias with respect to the subject matter of this report or the parties involved. In accordance with recognized professional ethics, Annex I-1 the professional fee for this service is not contingent upon Choloc’s conclusion of value or the consummation of the Transaction, and neither Choloc nor any of its employees has a present or intended financial interest in BLAC, OSR or any of their respective subsidiaries or affiliates. 2.Scope of the Fairness Opinion The M&A Committee has requested that Choloc provide a fairness opinion to the M&A Committee as to whether, as of the date hereof, the Aggregate Consideration to be paid in the Transaction is fair from a financial perspective to the public stockholders of BLAC and as per the Investment Criteria (as defined below), based on our knowledge of the early-stage life sciences market. We refer to such opinion herein as the “Fairness Opinion”. The Fairness Opinion is directed only to the M&A Committee, and, by extension, the Board or Directors of BLAC and addresses only the fairness of the Transaction from a financial perspective and as per the Investment Criteria, based on our knowledge of the early-stage life sciences market. The Fairness Opinion is made as the date hereof, and Choloc is not required to update this Fairness Opinion as of a later date, anything to the contrary contained herein notwithstanding.