Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 886

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 2
Chunk 886
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. The Company will generate non-operating income in the form of
interest income from the proceeds derived from the Initial Public Offering.

The registration statement
for the Company’s Initial Public Offering (the “Registration Statement”) was declared effective on February 9,
2023. On February 14, 2023, the Company consummated the Initial Public Offering of 6,000,000 units (“Units”
and, with respect to the common stock included in the Units being offered, the “Public Shares”), generating gross proceeds
of $60,000,000, which is described in Note 3.

On February 17,
2023, the underwriters exercised their over-allotment option in full. The closing of the issuance and sale of the additional Units occurred
(the “Over-Allotment Option Units”) on February 21, 2023. The total aggregate issuance by the Company of 900,000 Over-Allotment
Option Units at a price of $10.00 per unit generated total gross proceeds of $9,000,000.

Simultaneously with the
consummation of the Initial Public Offering and the sale of the Units, the Company consummated the private placement (the “Private
Placement”) of 430,000 Units (the “Private Placement Units”), to Bellevue Global Life Sciences Investors LLC
(the “Sponsor”) at a price of $10.00 per Placement Unit, for an aggregate purchase price of $4,300,000. Each Unit and
Private Placement Unit consists of one share of common stock, par value $0.0001 (the “Common Stock”), a warrant
to purchase one share of Common Stock (the “Public Warrants” and “Private Placement Warrants” and collectively,
the “Warrants”) and one right which entitles the holder thereof to receive one-tenth (1/10) of
a share of common stock (the “Public Rights” and Private Placement Rights” and collectively, the “Rights”),
as described in Notes 3 and 4.

The Company’s management has
broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale
of Private Placement Units, although substantially all of the net proceeds are intended to be applied generally toward consummating a
Business Combination. There is no assurance that the Company will be able to complete a