Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 120

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 120
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 OBOOK Holdings Inc. and
subsidiaries and the audited financial statements of PayNow and related notes, as applicable, and the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and other financial
information in this Registration Statement, which are incorporated herein by reference.

Accounting Treatment

The Acquisition is accounted for using the acquisition method. Acquisition-related costs are generally recognized in profit or loss as
incurred. Goodwill is measured as the excess of the sum of the consideration transferred, the amount of any non-controlling interests in PayNow, and the fair value of the equity interest in PayNow we held
previously over the net of the Acquisition Date amounts of the identifiable assets acquired and the liabilities assumed. Any contingent consideration payable is measured at fair value at the Acquisition Date. If the contingent consideration is
classified as equity, then it is not remeasured and settlement is accounted for within equity. Otherwise, subsequent changes in the fair value of contingent consideration are recognized in profit or loss.

Since the Acquisition occurred during the financial reporting period for the year ended December 31, 2023, the Company’s
consolidated financial statement has already reflected PayNow’s financial performance from the Acquisition Date onward.

81

Basis of Pro Forma Presentation On May 1, 2023, we acquired through OwlPay Holdings a 52.94% stake in PayNow for US$628,265 in cash, gaining control of PayNow. Following the Acquisition Date, PayNow’s assets, liabilities, and results have been consolidated in the Company’s consolidated financial statements. Acquisition-related costs, recognized as expenses when incurred, were insignificant. On September 15, 2023, we acquired through OwlPay Holdings 46.44% stake in PayNow for US$1,517,730 in cash. The difference of US$1,129,728 between the cash consideration and the carrying amount of the equity interest acquired was recognized in the accumulated deficit. The table below summarizes the estimated fair values of the acquired assets and liabilities as of the Acquisition Date.

| (Expressed in United States dollars)                                    
 Purchase consideration                                                  |     |   |            |   |
|:------------------------------------------------------------------------|:----|:--|-----------:|:--|
| Cash paid                                                               |     | $ |    628,265 |   |
| Fair value of the identifiable assets acquired and liabilities assumed: |     |   |            |   |
| Cash and restricted cash                                                |     |   |