Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 106

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 106
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 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. The personal and financial interests of the Sponsor as well as BLAC’s directors and officers may have influenced their motivation in identifying and selecting OSR Holdings as an initial business combination target, completing an initial business combination with OSR Holdings and may influence the operation of the business following consummation of the initial business combination. In considering the recommendations of the BLAC Board to vote for the proposals, its stockholders should consider these interests. For additional information on the interests and relationships of the Sponsor, Initial Stockholders, directors and officers in the Business Combination. See “ The Business Combination — Interests of BLAC’s Directors and Officers in the Business Combination.” Following the consummation of the Business Combination, BLAC’s only significant asset will be its ownership of OSR Holdings, and such ownership may not be sufficient to pay its expenses or satisfy other financial obligations. Following the consummation of the Business Combination, BLAC will be a holding company and will not directly own any operating assets other than its ownership of interests in OSR Holdings. BLAC will depend on OSR Holdings for distributions, loans and other payments to generate the funds necessary to meet its financial obligations, including its expenses as a publicly traded company. The earnings from, or other available assets of, OSR Holdings may not be sufficient to pay expenses or satisfy BLAC’s other financial obligations. The level of due diligence conducted in connection with the Business Combination may not be as high as would be the case if OSR Holdings were to raise capital through an underwritten public offering, which could result in defects with OSR Holdings’ business or problems with OSR Holdings’ management to be overlooked. Additionally, Choloc, in rendering its fairness opinion, relied upon the valuation of one third party performed in January 2023 that had not been updated and did not independently determine or evaluate the material findings of the underlying valuations for Vaximm and Darnatein prepared by another third party when considering that third party’s financial models in its fairness analysis. If OSR Holdings were to raise capital through an underwritten public offering, the underwriters would be subject to liability under Section 11 of the Securities Act for material misstatements and omissions in the initial public offering registration statement. In general, an underwriter is able to avoid liability under Section 11 if it can prove