Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 312

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 312
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 and valuation model for RMC, dated January13, 2023; •researched and analyzed recent transaction activity in the biopharmaceutical industry, including asset and equity transactions, tech access transactions, collaborations, and licensing deals, which are relevant to the assets, subsidiaries and business model of OSR; •researched and analyzed materials concerning sales analogs of marketed drugs specific to the assets, subsidiaries and business model of OSR; •reviewed and analyzed material made available to Choloc by OSR, including, for each OSR Holdings subsidiary, scientific data concerning OSR Holdings’ and its subsidiaries’ assets, intellectual property information, business model information, information on competitive landscape, research and development efforts, financial assumptions, and capital structure; 185 •conducted discussions with the BLAC M&A Committee and members of the management and representatives of OSR Holdings concerning the business, operations, financial condition and prospects of OSR Holdings and its subsidiaries; •reviewed publicly available financial and stock market data of certain other companies in lines of business that Choloc deemed relevant; •reviewed the Business Combination Agreement, dated as of November16, 2023, as amended and restated on May23, 2024; and •conducted such other financial studies and analyses and took into account such other information as Choloc deemed appropriate. Choloc, with the BLAC M&A Committee’s consent, relied upon the information supplied to, discussed with or reviewed by Choloc for purposes of its opinion being complete and accurate in all material respects. Moreover, Choloc did not independently determine or consider the material findings of the underlying valuations for Vaximm and Darnatein prepared by AF when considering AF’s financial models in its fairness analysis. Choloc does not assume any responsibility for independent verification of, and did not independently verify, any of such information. Further, Choloc’s opinion was necessarily based on economic, monetary, market and other conditions as in effect on, and the information made available to Choloc as of the date of its opinion. Choloc assumed no responsibility for updating its opinion based on developments after the date of its opinion. As stated above, Choloc’s opinion did not address the underlying business decision to effect the transactions contemplated by the Business Combination Agreement or the relative merits of the same as compared to any alternative business strategies or transactions that might be available to BLAC and does not address any legal, regulatory, tax, or accounting matters. With the BLAC M