Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 8

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 8
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 Incorporation to remove the net tangible asset requirement in order to expand the methods that the Company may employ so as not to become subject to the “penny stock” rules of the U.S. Securities and Exchange Commission. In connection with the annual meeting, holders of 1,721,469 public shares of BLAC Common Stock elected to have BLAC redeem such shares, representing approximately 91% of the outstanding public shares of BLAC Common Stock as of November 8, 2024, for a per share redemption price of approximately $11.15, resulting in an aggregate reduction of the amount in the Trust Account by $19,186,266, representing approximately 91% of the total amount in the Trust Account. As of January28, 2025, funds in the Trust Account totaled approximately $1,853,424. Because BLAC’s Sponsor is controlled by and has substantial ties with non -U.S. persons, and will own approximately 11.6% of the issued and outstanding shares of New OSR Holdings Common Stock following the Business Combination (assuming that all of BLAC’s public stockholders exercise redemption rights), we may be considered a “foreign person” under rules promulgated by the Committee on Foreign Investment in the United States (“CFIUS”), and the Business Combination may fall within the scope of a “covered transaction” subject to CFIUS review. See “ Risk Factors — Risks Related to the Business Combination and Business Combination Agreement — We may not be able to complete an initial business combination with a U.S. target company since such initial business combination may be subject to U.S. foreign investment regulations and review by a U.S. government entity such as CFIUS, and ultimately prohibited.” On October 4, 2024, BLAC and Toonon Partners Co., Ltd. (“ Toonon”) entered into a subscription agreement (as amended on December 17, 2024, the “Subscription Agreement”), pursuant to which, among other things, BLAC has agreed to issue and sell to Toonon, and Toonon has agreed to subscribe for and purchase, 222,222shares (the “PIPE Shares”) of Series A Preferred Stock of BLAC (the “Series A Preferred Stock”) for a purchase price of $90.00 per share (the “Series A Original Issue Price”), representing an aggregate purchase price of $20,000,000 (the “PIPE Investment”). Prior to closing of the PIPE Investment, the Company intends to file with the Secretary