Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 104

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 104
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20,010,000 based upon the closing price of $11.60 per share of BLAC Common Stock on Nasdaq on January27, 2025, the Record Date, but given the restrictions on those shares, we believe those shares have less value; •the fact that Sponsor purchased 430,000 private placement units (including the underlying securities) for an aggregate purchase price of $4,300,000 (or $10.00 per unit) in which the warrants and rights included in the private placement units would be worthless if a business combination is not consummated by February14, 2025 (unless such date is extended in accordance with the Existing Governing Documents). Such private placement units had an aggregate market value of approximately $5,074,000 based upon the closing price of $11.80 per public unit on Nasdaq on January27, 2025, the most recent practicable date prior to the date of this proxy statement/prospectus and an aggregate market value of approximately $5,074,000 based upon the closing price of $11.80 per public unit on Nasdaq on January27, 2025, the Record Date; 51 •the fact that the Sponsor has agreed to waive its rights to liquidating distributions from the Trust Account with respect to any shares of BLAC Common Stock (other than public shares) held by it if BLAC fails to complete an initial business combination by February14, 2025 (unless such date is extended in accordance with the Existing Governing Documents); •the fact that Kuk Hyoun Hwang, Jun Chul Whang and affiliates of the Sponsor have a financial interest in OSR Holdings. Mr. Hwang is the CEO and a director of BLAC and the Chairman of the Board of OSR Holdings. Mr. Hwang was previously the CEO of OSR Holdings from July 2019 until August 2021 and from December 2022 to August 2024. Mr. Whang is a director of BLAC. As such, Mr. Hwang, Mr. Whang and affiliates of the Sponsor who have a financial interest in OSR Holdings are incentivized to complete the Business Combination with OSR Holdings; •the fact that the Sponsor transferred 20,000shares of BLAC Common Stock to each of Dr. Reed, Dr. Chung. Mr. Park, Dr. Roberts, and Mr. Euh, who are current and former BLAC directors for their board service, and Mr. Yoo for his service