Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 548

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1B
Chunk 548
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whole or in part, as consideration to complete our initial business combination, the remaining proceeds held in the Trust Account will
be used as working capital to finance the operations of the target business or businesses, make other acquisitions and pursue our growth
strategies.

As of December 31, 2024, the Company had $66,135 in its operating
bank account and a working capital deficit of $6,263,411. The Company’s liquidity needs prior to the consummation of our IPO had
been satisfied through proceeds from advances from related party and from the issuance of common stock. Subsequent to the consummation
of our IPO, the Company’s liquidity was satisfied through the net proceeds from the consummation of the IPO, the proceeds from the
Private Placement Units held outside of the Trust Account and loans from the Sponsor, officers and directors and their affiliates.

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In order to fund working capital deficiencies or finance transaction
costs in connection with our initial business combination, our Sponsor, officers and directors or their affiliates may, but are not obligated
to, loan us funds as may be required. Up to $1,000,000 of such loans may be convertible into Units, at a price of $10.00 per unit at the
option of the lender, upon consummation of our initial business combination. The Units would be identical to the Private Placement Units.
We do not expect to seek loans from parties other than our Sponsor, officers and directors or their affiliates as we do not believe third
parties will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our Trust Account.
Loans made by Chardan or any of its related persons, if any, will not be convertible into any of our securities and Chardan and its related
persons will have no recourse with respect to their ability to convert their loans into any of our securities.

Based on the foregoing and the limited amount of working capital that
the Company received into the operating account from the private placement, management believes its existing cash and cash equivalents
will be sufficient to fund its operating expenses and capital expenditure requirements, although its estimate is based on plans and assumptions
that may prove to be wrong, and the Company could use its available capital resources sooner that it correctly expects. These conditions
raise substantial doubt about the Company’s ability to continue as a going concern. Over this time period, the Company will be using
the remaining funds held outside of the Trust Account for paying existing