Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 159

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1
Chunk 159
---
ibus Plan. As of January 29, 2025, there are 26 employees or directors that are eligible to participate in the Omnibus
Plan, but we expect that 17 employees, including each of the Company’s named executive officers, and approximately 9 non-employee directors,
consultants, and advisors of the Company will be eligible to participate in the Omnibus Plan after the consummation of the Business Combination.
Only the Company’s employees or employees of the Company’s corporate subsidiaries are eligible to receive incentive stock
options.

The Omnibus Plan became effective on January 29, 2025, the date it
was adopted by the Company Board (the “Effective Date”). The Omnibus Plan will terminate automatically at 11:59PM ET on the day
before the tenth (10th) anniversary of the Effective Date unless earlier terminated by the Board or in accordance with the
terms of the Omnibus Plan.

Recent Sales of Unregistered Securities 

Simultaneously with the closing of our IPO, our sponsor, Bellevue Global
Life Sciences Investors, LLC (“Sponsor”), purchased an aggregate of 430,000 units at a price of $10.00 per unit, for
an aggregate purchase price of $4,300,000 pursuant to an exemption from registration contained in Section 4(a)(2) of the Securities Act
(“Private Placement Units”).

In connection with our IPO, the underwriters were granted a 45-day
option from the date of our prospectus issued in connection with our IPO (the “Over-Allotment Option”) to purchase
up to 900,000 additional units to cover over-allotments (the “Over-Allotment Units”), if any. On February 21,
2023, the underwriters purchased 900,000 Over-Allotment Units fully exercising the Over-Allotment Option. The Over-Allotment Units were
sold at an offering price of $10.00 per Over-Allotment Unit, generating additional gross proceeds of $9,000,000 to the Company.

On October 16, 2024, the Company issued an unsecured promissory
note to Duksung Co., LTD. (“Duksung”) in the principal amount of $800,000 (the “Duksung Promissory Note”).
In the event of, and simultaneously with the closing of a Qualified PIPE Financing (as defined in the Duksung Promissory Note), the