Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 465

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 465
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 need to raise additional cash. Funding Requirements New OSR Holdings expects its operating expenses to increase significantly as New OSR Holdings continues to develop its pipeline of pre -clinicaland clinical product candidates and while it continues to identify and invest in startup and acquisition opportunities. New OSR Holdings’ R&D spending is expected to increase from historical levels beginning in the first half of 2025 and for the foreseeable future as it funds all of the costs of its subsidiaries. In addition, New OSR Holdings expects its selling, general and administrative expenses to increase due to modest increases in headcount along with anticipated expenses associated with being a public company. New OSR Holdings expects that current cash resources plus the gross proceeds of approximately $20 million expected from the PIPE Financing will provide sufficient funding to support its continued operations into 2026. New OSR Holdings may seek additional funding through the issuance of New OSR Holdings’ common shares, may make drawdowns on its existing or new loan facilities, or through payments from collaborations or partnerships with other companies, and/or may realize cash from collaborations or partnerships with other companies, and/or through 293

divestment from the sale of some or all of its strategic holdings, although there are no assurances those sources of funding will be realized. The amount and timing of New OSR Holdings’ future funding requirements will depend on many factors, including the pace of execution on and strength of results from its clinical trials and other research, development, manufacturing and commercialization activities or future collaborations. The issuance of New OSR Holdings’ common shares and the PIPE Financing may adversely affect the market price of New OSR Holdings Common Stock. Cash Flows The following table summarizes OSR Holdings’ cash flow data for the periods indicated (in thousands):

|                                                      |     | Year Ended December 31, 
      (KRW in thousands) 
                    2022 |   |     |       2023 |   |
|:-----------------------------------------------------|:----|------------------------:|:--|:----|-----------:|:--|
| Net cash used in operating activities                |     |                (652,051 | ) |     | (7,100,008 | ) |
| Net cash provided by (used in) investing activities  |     |              (2,161,262 | ) |     |     28,210 |   |
| Net cash provided by (used in) financing activities  |     |               5,955,339 |   |     |  4,163,034 |