Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 99

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 99
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 Related to the Business Combination and Business Combination Agreement If the Business Combination is not approved or if for any reason the Business Combination does not close within the time frame for completing the Business Combination, BLAC would cease all operations except for the purpose of winding up and BLAC would be required to redeem its public shares and, subject to approval of the remaining stockholders and the BLAC Board in accordance with applicable law, dissolve and liquidate (subject in each case to BLAC’s obligations under the DGCL to provide for claims of creditors and other requirements of applicable law), in which case BLAC’s public stockholders may only receive $11.25 per share, or less than such amount in certain circumstances, and BLAC’s warrants and rights will expire worthless. BLAC has received approval from our stockholders to extend the time period for completing the Business Combination to February 14, 2025 (unless such date is extended in accordance with the Existing Governing Documents). If BLAC has not completed its initial business combination by that date, it will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, subject to lawfully available funds therefor, redeem the public shares at a per -shareprice, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining stockholders and the BLAC Board in accordance with applicable law, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. In such case, our public stockholders may only receive $11.25 per share, and BLAC’s warrants and rights will expire worthless. BLAC’s Chief Executive Officer and one of our directors was previously the Chief Executive Officer and is currently the Chairman of the Board of OSR Holdings. These dual positions (i) create conflicts of interest in the performance of his duties; and (ii) may provide for him to receive compensation following the Business Combination that ampl