Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 317

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 317
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 on BLAC’s behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. As of the date of this proxy statement/prospectus, there are no outstanding out -of-pocketexpenses for which the Sponsor or BLAC’s officers or directors are awaiting reimbursement; •the fact that if the Trust Account is liquidated, including in the event BLAC is unable to complete an initial business combination by February14, 2025 (unless such date is extended in accordance with the Existing Governing Documents), the Sponsor has agreed to indemnify BLAC to ensure that the proceeds in the Trust Account are not reduced below $10.175 per public share, or such lesser per public share amount as is in the Trust Account on the liquidation date, by the claims of prospective target businesses with which BLAC has entered into an acquisition agreement or claims of any third party for services rendered or products sold to BLAC, but only if such a vendor or target business has not executed a waiver of any and all rights to seek access to the Trust Account; •the fact that director Jun Chul Whang has loaned an aggregate of $115,000 to BLAC for working capital purposes, of which $75,000 remains outstanding; •the fact that BLAC advanced a loan to OSR Holdings in the amount of $300,000 evidenced by the OSR Holdings Promissory Note that bears interest at a rate of 3.96% per annum, compound semi -annually, and is due on October25, 2025. Interest is payable only on maturity. The following events constitute an event of default under the OSR Holdings Promissory Note: (i) a failure to pay the outstanding balance due within five (5) business days of the OSR Note Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy action. The funds are to be used by OSR Holdings for working capital and other expenses of OSR Holdings; and •the fact that BLAC may be entitled to distribute or pay over funds held by BLAC outside the Trust Account to the Sponsor or any of its affiliates prior to the Closing. 191 BLAC’s M&A Committee, consisting of independent directors, reviewed and considered these interests during their evaluation of the Business Combination and in unanimously approving and recommending that the full Board approve the Business Combination Agreement and the transactions contemplated therein, including the Business Combination. The BLAC M&A Committee gave special consideration to the fact that Mr. Hwang, Mr. Whang, and