Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 495

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 495
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 to the quotient (rounded to the nearest whole share) obtained by dividing (a) the outstanding principal amount and unpaid accrued interest under the Duksung Promissory Note by (b) eight dollars and ten cents ($8.10). The Conversion shall constitute satisfaction in full of the obligations of BLAC under the Duksung Promissory Note. In the event a Qualified PIPE Financing does not occur on or before March 31, 2025, BLAC may prepay the Duksung Promissory Note, in whole or in part, at any time after the PIPE Outside Date. The amount to be paid pursuant to any such prepayment shall include the outstanding principal amount plus accrued and unpaid interest calculated at a simple rate of 7% from the issuance date. On October 25, 2024, OSR Holdings issued a promissory note to BLAC in the aggregate principal amount of $300,000 (the “OSR Holdings Promissory Note”) to fund working capital and other expenses of OSR Holdings. The OSR Holdings Promissory Note bears interest at a rate of three and ninety -sixhundredths’ percent (3.96%) per annum and shall be compounded semi -annually. The OSR Holdings Promissory Note is payable on October 25, 2025 (the “OSR Promissory Note Maturity Date”) and all accrued interest shall be payable on the Maturity Date. The following events constitute an event of default under the OSR Holdings Promissory Note: (i) a failure to pay the outstanding balance due within five (5) business days of the OSR Holdings Promissory Note Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy action. Results of Operations BLAC’s entire activity since inception through September 30, 2024 related to its formation and IPO, and subsequent to the IPO, related to identifying a target company for an initial business combination. BLAC does not expect to generate any operating revenues until after the completion of an initial business combination. BLAC generated non -operatingincome in the form of interest income on investments held after its IPO. BLAC will incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses in connection with searching for, and completing, an initial business combination. 314 For the three months ended September 30, 2024, BLAC had a net loss of $230