Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 281

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 281
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 and letter of intent, that OSR Holdings would be able to acquire all or a controlling interest in LBV’s portfolio companies, it became clear that it would require significant additional capital and extensive negotiations with the rest of the stakeholders in LBV’s portfolio companies in order for OSR Holdings to accomplish that goal. As a result, OSR Holdings decided that it did not want to commit the additional resources to pursue the LBV acquisition. The BLAC M&A Committee determined to terminate the engagement with the prior fairness opinion provider after OSR Holdings terminated its pursuit of an acquisition of LBV, because without LBV, the majority of OSR Holdings’ operating assets will be located in Korea, in which case the BLAC M&A Committee determined that it made more sense to engage a fairness opinion provider with a better understanding of the local Korean life sciences market rather than the European life sciences market. See “The Business Combination — The BLAC M&A Committee’s Reasons for the Approval of the Business Combination — Fairness Opinion of Choloc Asset Investment Advisory Co., Ltd.”for additional information on Choloc Asset Investment Advisory Co., Ltd., the current fairness opinion provider, and the fairness opinion provided to the BLAC M&A Committee on September 17, 2024. March — April 2024 Between the end of March and the end of April 2024, the BLAC M&A Committee discussed, via email, the qualifications of Choloc Investment Advisory Co., Ltd. (“ Choloc”) and determined that Choloc meets the requirements of BLAC’s Amended and Restated Certificate of Incorporation to render the fairness opinion relating to the Business Combination. The BLAC M&A Committee also ratified and approved the engagement letter with Choloc to render a fairness opinion as a condition to closing of the Business Combination. For further details, see “The Business Combination — The BLAC M&A Committee’s Reasons for the Approval of the Business Combination — Fairness Opinion of Choloc Asset Investment Advisory Co., Ltd.” 165 May 7, 2024 The BLAC M&A Committee met, with all members participating. A representative of K&L Gates, BLAC’s outside legal counsel, also participated. In addition, Kuk Hyoun Hwang, CEO of BLAC and OSR Holdings, and Jun Whang, member of the BLAC Board, also participated for a portion of the meeting. Mr. Hwang convened the meeting and confirmed that all of the members of the BLAC M&A Committee had received the