Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 854

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 2
Chunk 854
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 our Sponsor (of which up to 225,000 shares were
subject to forfeiture in the event the underwriter’s Over-Allotment Option was not exercised in full). At the closing of our IPO,
our Sponsor transferred 20,000 founder shares to each of our directors and 20,000 placement warrants each to our directors who are serving
as our Chairman of the Board of Directors and the chair of our audit committee. On March 23, 2023, our Sponsor also transferred 20,000
founder shares and 20,000 placement warrants to Mr. Yoo for his service as Chief Financial Officer.

Our Sponsor purchased an aggregate of 430,000 Private Placement Units
at a price of $10.00 per unit, for an aggregate purchase price of $4,300,000, at the closing of our IPO. There will be no redemption rights
or liquidating distributions from the Trust Account with respect to the founder shares or placement shares, and the placement warrants
and placement rights will expire worthless if we not consummate a business combination on or prior to the time provided in the Company’s
Charter (as subject to extension).

On March 31, 2022, our Sponsor entered into a promissory note
with BCM Europe in the principal amount of $3,400,000 with a maturity date of December 9, 2023 (the “BCM Europe Note”).
The proceeds of the BCM Europe Note were used to fund our Sponsor’s purchase of the Private Placement Units. The BCM Europe Note
is convertible at the election of either our Sponsor or BCM Europe into (i) 310,000 Units identical to the Private Placement Units held
by our Sponsor, (ii) 370,000 founder shares held by our Sponsor, and (iii) 60,000 warrants held by our Sponsor. The BCM Europe Note was
amended on March 27, 2024 to extend the maturity date to the earlier of (i) December 31, 2024 or (ii) the date on
which the Company consummates a Business Combination. Additionally, on February 2, 2023, our Sponsor entered into a promissory note
with BCM Europe in the principal amount of $2,000,000 with a maturity date of February 2, 2024 (the “BCM Europe Note 2023”).
The proceeds of the BCM Europe Note 2023 will be used, if necessary, to fund expenses in