Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 274

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 274
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 K&L Gates, BLAC’s outside legal counsel, also participated. Legal counsel confirmed that all of the members of the BLAC M&A Committee had received the materials circulated in advance of the meeting, including a draft Letter of Intent and financial and other information relating to a proposed business combination with OSR Holdings. The BLAC M&A Committee noted that Mr. Hwang is the CEO of OSR Holdings, and as such is an interested director in the proposed transaction. Mr. Hwang recused himself from the BLAC M&A Committee’s consideration of the proposed transaction and interest of Mr. Hwang in the proposed transaction had been disclosed to all members of the BLAC Board and BLAC M&A Committee. The BLAC M&A Committee discussed the terms of the draft Letter of Intent and asked questions of the management members, including an analysis of all companies that were considered as targets for the proposed business combination. The BLAC M&A Committee discussed how management had arrived at the proposed valuation of OSR Holdings and requested that management provide additional information to the BLAC M&A Committee. Following discussion, the BLAC M&A Committee authorized management to proceed with the execution of the Letter of Intent with OSR Holdings. 159 The BLAC M&A Committee requested that management provide the BLAC M&A Committee with additional information prior to executing the definitive agreements relating to the transaction with OSR Holdings, including additional financial and scientific diligence materials. The BLAC M&A Committee noted that closing of the transaction would be conditioned on the BLAC M&A Committee’s receipt of a fairness opinion from an independent investment bank providing that the terms of the transaction are fair from a financial perspective to BLAC stockholders. For further details, see “The Business Combination — The BLAC M&A Committee’s Reasons for the Approval of the Business Combination — Fairness Opinion of Choloc Asset Investment Advisory Co., Ltd.” June 19, 2023 At OSR Holdings’ weekly Monday morning meeting on June 19, 2023, Mr. Hwang informed OSR Holdings members Sung Hoon Chung, Sung Jae Yu, Soo Eun Nam, Yeiseok Kim and Taemin Lee that the BLAC M&A Committee had authorized BLAC to execute the non -bindingLetter of Intent for BLAC to seek a business combination with OSR Holdings. June 26, 2023 On a video conference held on June 26, 2023, Mr. Hwang and OSR Holdings members discussed their respective independent research on a well -knownmarket comparable