Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 255

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 255
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, as well as both parties together, and made every reasonable effort to be a neutral and balanced advocate 151 for both parties he represented. Mr. Hwang was aware that for BLAC, the benefits would include the execution of a business combination with a holding company with a portfolio of operating companies, which was in accordance with its publicly stated business strategy, and the ability to execute a complex business transaction with a company with which BLAC (through Mr. Hwang) was already familiar. From OSR Holdings’ perspective, Mr. Hwang was aware that a business combination with BLAC could provide a capital infusion and a publicly traded security, which would enable it to pursue its goal of expanding its portfolio of companies in the biotech/medtech and biopharma spaces, as well as recruiting qualified individuals to expand its existing business to a global scale. BLAC determined that it was an objectively reasonable business decision in its search for a target company to seek a business combination with OSR Holdings. BLAC did not consider any other alternative combination targets to be as compelling as OSR Holdings when evaluating potential alternative companies’ business prospects, strategy, management teams, structure, likelihood of execution (including taking account of timelines for completion of a business combination) and valuation considerations. February 20, 2023 At OSR Holdings’ weekly Monday morning meeting on February 20, 2023, in attendance were Mr. Hwang and OSR Holdings executives Sung Hoon Chung, Sung Jae Yu, Soo Eun Nam, Yeiseok Kim and Taemin Lee. Among other topics of discussion, as a representative of BLAC, Mr. Hwang said that while BLAC had initiated a search for a target company with which to conduct a business combination, BLAC would also simultaneously pursue the possibility of conducting a business combination with OSR Holdings. This was discussed in the context of OSR Holdings’ historical plans from early 2020 for OSR Holdings to lead an effort to take Vaximm AG, a Swiss biotech company, public on the Korean stock exchange (KOSDAQ) by engaging a major Korean investment bank (Brokerage “S”) for which Mr. Hwang himself previously worked. As CEO of OSR Holdings, Mr. Hwang was actively involved in all aspects of discussions and decisions regarding such historical plans. In line with those plans, OSR Holdings’ Swiss affiliate, BCME, had made a minority investment in Vaximm in early 2020. Also in line with those plans, on December 29