Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 547

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1B
Chunk 547
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Liquidity and Capital Resources 

Our liquidity needs had been satisfied prior to the completion of our
IPO through a capital contribution from our Sponsor of $25,000 for the founder shares and an aggregate of $1,200,000 in loans from our
Sponsor under unsecured promissory notes. Upon the closing of our IPO, the promissory notes were be deemed to be repaid and settled in
connection with the private placement. Further, we have incurred and expect to continue to incur significant costs in pursuit of our financing
and acquisition plans.

The net proceeds from (i) the sale of the Units in our IPO (including
the Units sold in the exercise of the Over-Allotment Option), after deducting offering expenses of approximately $1,310,000, underwriting
commissions of $1,380,000 and excluding deferred underwriting commissions of $2,070,000, and (ii) the sale of the Private Placement
Units for an aggregate purchase price of $4,300,000 was $70,610,000. Of this amount, $70,207,500 was placed in the Trust Account, including
$2,070,000 of deferred underwriting commissions. The proceeds held in the Trust Account will be invested only in U.S. government treasury
obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the
Investment Company Act which invest only in direct U.S. government treasury obligations.

We used substantially all of the funds held in the Trust Account, including
any amounts representing interest earned on the Trust Account (less deferred underwriting commissions), to complete our initial business
combination. We may withdraw interest to pay taxes. We estimate our annual franchise tax obligations, based on the number of authorized
shares of our common stock, to be $200,000, which is the maximum amount of annual franchise taxes payable by us as a Delaware corporation
per annum, which we may pay from funds held outside of the Trust Account or from interest earned on the funds held in our Trust Account
and released to us for this purpose. Our annual income tax obligations
will depend on the amount of interest and other income earned on the amounts held in the Trust Account. We expect the interest earned
on the amount in the Trust Account will be sufficient to pay our income taxes. To the extent that our capital stock or debt is used, in