Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 247

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 247
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 the issues of redemptions and PIPE or alternative financing, and more specifically questions or concerns about BLAC’s ability to raise additional capital in the face of anticipated redemptions, reduced the pool of potential target companies willing to engage in discussions with BLAC. BLAC/OSR Holdings Joint Review of Potential Target Companies As described below, members of BLAC and OSR Holdings (and executives of certain of OSR Holdings’ subsidiaries) jointly reviewed and evaluated target companies’ scientific models, theses and data. These joint exercises were performed for the sake of efficiency and streamlining, and to utilize BLAC and OSR Holdings’ substantial internal resources and expertise. BLAC and OSR Holdings and its subsidiaries’ executives and consultants together comprise a roster of experienced scientists and medical doctors. BLAC and OSR Holdings executives likewise have extensive experience in the Korean, U.S. and European capital markets and/or the biotech/biopharma industry. In addition to the benefit of BLAC and OSR Holdings members’ and consultants’ substantial collective experiences, given the short timeline 145 for BLAC to execute a business combination, utilizing the collective internal resources of BLAC and OSR Holdings was the most time and cost -efficientmanner in which to evaluate potential target companies. In evaluating potential target companies together, BLAC management and the BLAC Board worked closely with individuals at OSR Holdings who have experience in the biotechnology and biopharmaceutical industries to assist with performing scientific due diligence on potential target companies, including evaluating their asset pipelines, drug candidates, products, and the biopharmaceutical and biotechnology expertise of the target companies’ management and team members, as applicable. Kuk Hyoun Hwang is Chief Executive Officer and a Director of BLAC and was Chief Executive Officer of OSR Holdings from July 2019 to April 2021 and from December 2022 to August 2024 and has served as Chairman since July 2019. Due to the inherent conflict of interest presented by Mr. Hwang’s dual roles, the BLAC Board formed a special committee (the “ BLAC M&A Committee”) on June 9, 2023 consisting of members of the BLAC Board that do not have any financial or other interest in OSR Holdings, from which Mr. Hwang was recused, and through which approval would be sought to pursue any business combination transaction, as well as other subsequent decisions to be taken by the BLAC M&A Committee, including the ratification of actions taken by the BLAC Board