Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 505

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 505
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 June 2023 Note Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy action. At the Sponsor’s discretion, the principal balance of the June 2023 Note may be converted at any time prior to the consummation of an initial business combination into Units identical to the Private Placement Units at a price of $10.00 per Unit. BLAC repaid the June 2023 Note on December 4, 2023. On November 13, 2023, BLAC issued an unsecured promissory note (the “ BCM Note”) in the principal amount of $180,000 to BCM to fund the payment to extend the date to consummate an initial business combination to February 14, 2023. The BCM Note is not interest bearing and is payable in full on the earlier of: (i) December 31, 2024 or (ii) the date on which BLAC consummates an initial business combination (the “BCM Note Maturity Date”). In the event that BLAC does not consummate a business combination on or prior to the time provided in the Current Charter (as subject to extension), BCM agrees to forgive the principal balance of the BCM Note, except to the extent of any funds reaining outside of BLAC’s Trust Account, if any. The following shall constitute an event of default: (i) a failure to pay the principal within five business days of the BCM Note Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy action. BLAC repaid the BCM Note on December 4, 2023. On February 9, 2024, BLAC issued an unsecured promissory note (the “JCW Note”) in the principal amount of $75,000 to Jun Chul Whang, a director of BLAC, in part to fund the payment to extend the date to consummate an initial business combination to March 14, 2024, and in part for general working capital purposes. The JCW Note is not interest bearing and is payable in full on the earlier of: (i) August 9, 2024 or (ii) the date on which BLAC consummates an initial business combination (the “JCW Note Maturity Date”). In the event that BLAC does not consummate a business combination on or prior to the time provided in the Current Charter (as subject to extension), Mr. Whang agrees to forgive the principal balance of the JCW Note, except to the