Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 101

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 101
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 New OSR Holdings after the completion of the Business Combination and receive future compensation in the form of cash payments and/or New OSR Holdings securities for services he would render to New OSR Holdings after the completion of the Business Combination. The personal and financial interests of Mr. Hwang may influence his motivation in negotiating the Business Combination. Despite the approval of the terms of the Business Combination Agreement by a majority 50 of our independent directors ( i.e., the BLAC M&A Committee), potential conflicts of interest still may exist and, as a result, the terms of the Business Combination may not be as advantageous to our public stockholders as they would be absent any conflicts of interest. Mr. Hwang is expected to beneficially own 13,074,123shares of the post -combinationcompany and control 73.33%, 73.67%, and 74.02% for the no redemption scenario, 50% redemption scenario, and maximum redemption scenario, respectively. The PIPE Investment will not close at the closing of the Business Combination. As a result, BLAC will not receive $20 million in cash at the closing of the Business Combination. New OSR Holdings will be insolvent at the closing of the Business Combination and will not have enough cash to fund its operations or pay its outstanding expenses and debts. There is no guarantee that the PIPE Investment ever close. In the event that the PIPE Investment or other funding is not received by New OSR Holdings shortly after closing of the Business Combination, New OSR Holdings could enter bankruptcy proceedings and the value of the stock of New OSR Holdings would likely become worthless. BLAC has incurred significant expenses in connection with the Business Combination. As a result, BLAC entered into a PIPE Investment that was to close at the closing of the Business Combination. Toonon, the investor in the PIPE Investment, has indicated that the PIPE Investment will not close at the closing of the Business Combination. As a result, BLAC will not receive $20million in cash at the closing of the Business Combination and BLAC will not meet the Minimum Cash Condition for closing of the Business Combination. New OSR Holdings will be insolvent at the closing of the Business Combination and will not have enough cash to fund its operations or pay its outstanding expenses and debts unless and until the PIPE Investment closes. BLAC believes the PIPE Investment will close by February28, 2025, but there is no guarantee that the PIPE Investment close by such date or that it will ever close. If New OSR Holdings is unable to