Company: OSRH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076461
Chunk: 9

Company: OSR Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 to the Amended and Restated Business Combination Agreement dated
May 23, 2024, as amended on December 20, 2024 (the “Business Combination Agreement”). The Business Combination Agreement
was entered into among the Company, OSR, and certain OSR stockholders that executed joinder agreements thereto. In connection with the
consummation of the Business Combination, the Company changed its name from “Bellevue Life Sciences Acquisition Corp. or BLAC”
to “OSR Holdings, Inc.”

The Business Combination was consummated on February
14, 2025, which, for accounting and reporting purposes under U.S. generally accepted accounting principles (US-GAAP), was treated as
the equivalent of OSR Holdings Co., Ltd. exchanging its stock for the net assets of OSR Holdings, Inc, accompanied by an equity recapitalization
of OSR Holdings, Inc, which was determined to fall within the scope of Accounting Standards Codification (ASC) 805 Business Combinations.
OSR Holdings, Inc. was treated as the acquired company, and its net assets were stated at historical cost, with no goodwill or other
intangible assets recorded. The excess of the fair value of shares exchanged to OSR Holdings, Inc. over the fair value of the Company’s
identifiable net assets acquired represented compensation for the service of a stock exchange listing for its shares and was expensed
as incurred.

5

Details of shareholders as of June 30, 2025 are
as follows:

    Name of Shareholder 
    Number of 
    ordinary  share  
    Percentage of
    
    ownership 
  
    Bellevue Global Life Sciences Investors LLC 
     1,332,500  
     6.73%
  
    BCM Europe AG 
     8,612,634  
     43.48%
  
    Bellevue Capital Management LLC 
     3,123,970  
     15.77%
  
    Duksung Co.,Ltd. 
     1,420,215  
     7.17%
  
    Others 
     5,317,140  
     26.85%
  
    Total 
     19,806,459  
     100.00%

As of June 30, 2025, there were 19,806,459 shares of the registrant’s
common stock outstanding.

Details of investments in subsidiaries as of
June 30, 2025 are as