Company: OSRH
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045947
Chunk: 80

Company: OSR Holdings, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 2
Chunk 80
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 Agreement, dated as of May 23, 2024, as amended on December 20, 2024 (the “Business
Combination Agreement”), by and among the Company, OSR, each stockholder of OSR that executed a Participating Joinder thereto
(each such person, a “Participating Stockholder”), and each stockholder of OSR that executed a Non-Participating Joinder
thereto (each such person, a “Non-Participating Stockholder”, and together with the Participating Stockholders, the “OSR
Stockholders”).

On
the Closing Date, the Company issued to the Participating Stockholders an aggregate of 16,282,047 shares of Company common stock,
par value $0.0001 per share (“Company Common Stock”), and the Participating Stockholders transferred their respective
shares of OSR’s Series A common stock, with a par value of KRW 5,000 per share (“OSR Common Stock”), to
the Company (the “Share Exchange”). Following the consummation of the Business Combination and the Share Exchange
(the “Closing”), the Company now owns approximately 67% of the outstanding OSR Common Stock, and OSR Stockholders holding
an additional 22% of the outstanding OSR Common Stock will continue to hold their shares of OSR Common Stock subject to the terms of
the Non-Participating Joinders which contain put and call rights whereby the Non-Participating Stockholders shall have the right
to cause the Company to purchase (the “Put Right”) and the Company shall have the right to cause the Non-Participating Stockholders
to sell to the Company or its designee (the “Call Right”) all of the shares of OSR Common Stock owned and held of
record by such Non-Participating Stockholder. These rights become exercisable on or after the earlier of (i) January 1,
2026, or (ii) the date that the Non-Participating Stockholder is notified by the Company of a transaction that will result
in a change in control (as defined in the Non-Participating Joinder) of the Company (the “Trigger Date”). The Put
Right and Call Right terminate and expire 120 days after the Trigger Date. The exchange ratio is fixed under the put/call rights
at the same exchange ratio set forth in the Business Combination Agreement, and there