Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 227

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 227
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 the Business Combination. 121

•Assuming 50% Redemptions — This scenario assumes that BLAC’s Public Stockholders will redeem 82,376shares of BLAC Common Stock upon consummation of the Business Combination at a redemption price of approximately $11.15 per share. •Assuming Maximum Redemptions — This scenario assumes that BLAC’s Public Stockholders will redeem 164,752shares of BLAC Common Stock upon consummation of the Business Combination at a redemption price of approximately $11.15 per share. The following table illustrates varying ownership levels in BLAC Common Stock immediately following the consummation of the Business Combination based on the varying levels of redemptions by the public stockholders and the following additional assumptions: (i) 14,676,728shares of BLAC Common Stock are issued to the Participating Company Stockholders at consummation of the Business Combination, (ii) all BLAC Rights have been converted to shares of BLAC Common Stock and (iii) the $800,000 promissory note issued by BLAC to Duksung is automatically converted into shares of BLAC Common Stock upon the Closing of the Business Combination. The table below does not take into account (i) the exercise of any BLAC Warrants as the warrants do not become exercisable until 30 days after the consummation of the Business Combination, and (ii) the issuance of any equity awards under the Omnibus Plan as there will be no awards issued under the Omnibus Plan immediately following the consummation of the Business Combination. If the actual facts differ from these assumptions, the ownership percentages in BLAC will be different and totals may not add up to 100% due to rounding.

|                                     |     | Pro Forma Combined 
          (Assuming 
    No Redemptions) |     |           |   |     | Pro Forma Combined 
          (Assuming 
   50% Redemptions) |     |           |   |     | Pro Forma Combined 
  (Assuming Maximum 
       Redemptions) |     |           |   |
|                                     |     |          Number of 
             Shares |     |         % 
 Ownership |   |     |          Number of 
             Shares |     |         % 
 Ownership |   |     |          Number of 
             Shares |     |         % 
 Ownership |   |
| OSR Holdings Stockholders(1)        |     |         14,676,728 |