Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 502

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 502
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 Act”) contains provisions that, among other things, relax certain reporting requirements for qualifying public companies. BLAC qualifies as an “emerging growth company” and under the JOBS Act are allowed to comply with new or revised accounting pronouncements based on the effective date for private (not publicly traded) companies. BLAC is electing to delay the adoption of new or revised accounting standards, and as a result, BLAC may not comply with new or revised accounting standards on the relevant dates on which adoption of such standards is required for non -emerginggrowth companies. As a result, the condensed consolidated financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. Additionally, BLAC is in the process of evaluating the benefits of relying on the other reduced reporting requirements provided by the JOBS Act. Subject to certain conditions set forth in the JOBS Act, if, as an “emerging growth company,” BLAC chooses to rely on such exemptions BLAC may not be required to, among other things, (i) provide an auditor’s attestation report on BLAC’s system of internal control over financial reporting pursuant to Section 404, (ii) provide all of the compensation disclosure that may be required of non -emerginggrowth public companies under the Dodd -FrankWall Street Reform and Consumer Protection Act, (iii) comply with any requirement that may be adopted by the PCAOB regarding mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial statements (auditor discussion and analysis) and (iv) disclose certain executive compensation related items such as the correlation between executive compensation and performance and comparisons of the CEO’s compensation to median employee compensation. These exemptions will apply for a period of five years following the completion of BLAC’s IPO or until BLAC is no longer an “emerging growth company,” whichever is earlier. Recent Accounting Pronouncements BLAC management does not believe there are any recently issued, but not yet effective, accounting pronouncements, if currently adopted, that would have a material effect on BLAC’s condensed consolidated financial statements. 317 CERTAIN BLAC RELATIONSHIPS AND RELATED PERSON TRANSACTIONS Founder Shares and Private Placement Units On July 30, 2020, BLAC issued an aggregate of 1,437,500 founder shares to the Sponsor for an aggregate purchase price of $25,000 in cash, or approximately $0.014 per share. On April 25, 2022, BLAC executed