Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 375

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 375
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R Holdings entitled to vote at the meeting are represented as such meeting. Reason for the Amendment The BLAC Board believes it is important to reduce the requisite quorum for a meeting of stockholders from a majority to one -thirdof the shares entitled to vote at such meeting so that New OSR Holdings stockholders have the ability to hold meetings when a minority of the New OSR Holdings stockholders are present. Proposal No. 3F: Removal of SPAC Provisions Description of Amendment The Current Charter contains various provisions applicable only to blank check companies. The Amended Charter removes those provisions applicable only to special purpose acquisition companies that will no longer be applicable after the consummation of the Business Combination. Reasons for the Amendment The BLAC Board believes the amendment to remove certain provisions related to BLAC’s status as a blank check company is desirable because these provisions will serve no purpose following consummation of the Business Combination. For example, these proposed amendments remove the requirement to dissolve the Combined Company and allow it to continue as a corporate entity with perpetual existence following consummation of the Business 224 Combination. Perpetual existence is the usual period of existence for corporations and we believe it is the most appropriate period for New OSR Holdings following consummation of the Business Combination. In addition, certain other provisions in the Current Charter require that proceeds from the BLAC IPO be held in the Trust Account until an initial business combination or certain other transactions have occurred. These provisions cease to apply once the Business Combination is consummated. Vote Required for Approval The Advisory Governance Proposals require the vote of a majority of the votes cast by the stockholders present in person or represented by proxy at the BLAC Stockholders’ Meeting and entitled to vote thereon. Abstentions and broker non -voteswill have no impact on the outcome of the Advisory Governance Proposals. The Business Combination is not conditioned upon the approval of the Advisory Governance Proposals. As discussed above, a vote to approve each of the Advisory Governance Proposals is an advisory vote, and therefore, is not binding on BLAC, OSR Holdings or their respective boards of directors. Accordingly, regardless of the outcome of the non -bindingadvisory vote, BLAC and OSR Holdings intend that the Amended Charter, in the form attached to and incorporated into this proxy statement/prospectus as Annex F and containing the provisions noted above, will take effect at the Closing, assuming approval of the Charter Proposal (Proposal 2). Recommendation of the Board of Directors OUR BOARD OF DIRECTORS