Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 247

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 247
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 in the meeting, recognized that a non -disclosureagreement was in place between BLAC and OSR Holdings and agreed that ratifying the non -disclosureagreement would be in order prior to discussing and reviewing the terms of the LOI. Mr. Hwang continued to serve as an officer and director of both BLAC and OSR Holdings. For BLAC, he participated in evaluating companies as potential businesses combination targets while leading efforts to secure the necessary PIPE financing to complete such a business combination. For OSR Holdings, he continued to lead all operations and executive functions, including assessing potential businesses as acquisition targets to continue building OSR Holdings’ portfolio of healthcare subsidiary companies. As described herein, BLAC began considering OSR Holdings as a target candidate on February 20, 2023. Mr. Hwang, representing BLAC, first introduced the basic terms of a potential transaction between BLAC and OSR Holdings with management of OSR Holdings on May 2, 2023, when a proposed draft letter of intent was initially distributed by legal counsel to BLAC. At such time, OSR Holdings was evaluating a range of other acquisition and strategic opportunities as part of its ongoing business operations but it had not reached any definitive or other agreements for any such transaction. Following its formation, the BLAC M&A Committee did not consider any additional business combination targets other than OSR Holdings, but, at a meeting held on June 18, 2023, the BLAC M&A Committee was presented with information on the BLAC Board’s discussions with, and analyses of, the other business combination targets the BLAC Board considered, and the BLAC M&A Committee considered such information in making its decisions to ratify the BLAC Board’s prior actions, enter into the LOI, and ultimately approve the Business Combination. The BLAC M&A Committee was at all times aware that Mr. Hwang had prior discussions with OSR Holdings regarding a potential business combination, and that Mr. Hwang was involved in the preparation of the initial draft of the LOI between BLAC and OSR Holdings, in each case prior to the formation of the BLAC M&A Committee. 146 Additionally, the BLAC M&A Committee was aware that Mr. Hwang and Mr. Whang, each members of the BLAC Board, have a financial ownership interest in Bellevue Capital Management, LLC, which controls Sponsor and owns over 40% of the outstanding capital stock of OSR Holdings. In making its decisions to ratify the entry into