Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 453

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 453
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 recognizing the need to bridge preclinical research within a translational clinical context, we aim to streamline the drug development process to optimize our path to market and maximize the potential for success. Business Combination and Public Company Costs OSR Holdings has executed a Business Combination Agreement with BLAC pursuant to which stockholders of OSR Holdings will exchange their securities for common stock of BLAC. As a result of the Business Combination, OSR Holdings will become a majority -ownedsubsidiary of BLAC. The Business Combination will be accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, BLAC will be treated as the “acquired” company and OSR Holdings will be considered the accounting acquirer for accounting purposes. Accordingly, for accounting purposes, the Business Combination will be treated as the equivalent of a capital transaction in which BLAC is issuing securities for the net assets of OSR Holdings. The net assets of OSR Holdings will be stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Business Combination will be those of OSR Holdings. After the Business Combination, BLAC, under the name New OSR Holdings, will remain the SEC -registeredand Nasdaq -listedcompany, which will require New OSR Holdings to hire or contract additional personnel and implement procedures and processes to address public company regulatory requirements and customary practices. New OSR Holdings expects to incur additional annual expenses as a public company for, among other things, directors’ and officers’ liability insurance, director fees, and additional internal and external accounting, legal, and administrative resources, including increased personnel costs, audit, and other professional service fees. Overview OSR Holdings was incorporated in the Republic of Korea in July 2019 and, in October 2019, BCM invested KRW 505 million in exchange for 101,000shares, its first material capital infusion. In 2021, OSR Holdings raised equity capital three additional times from BCM and OSR Holdings’ officers to raise a total of KRW one 287 billion. In March 2022, OSR Holdings raised KRW 4.63 billion from additional investors. As of the closing of the March 2022 investment, OSR Holdings had raised total equity capital of KRW 6.135 billion to finance its business activities, primarily analyzing the pharmaceutical industry and strengthening its corporate capabilities. In March 2022, OSR Holdings subscribed for 1,750 preference shares of BCME, a wholly -ownedsubs