Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 477

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 477
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 a policy that requires its board of directors’ prior approval of loans and borrowings from affiliates of OSR Holdings except for loans and borrowings that do not exceed (1) KRW 1 billion or (2) US$1 million (based on the currency used in the transaction), in which cases management has delegated authority to execute such loans and borrow funds on such terms as they determine are in the best interest of OSR Holdings.

302 INFORMATION ABOUT BLAC Overview BLAC is a Delaware blank check company incorporated on February 25, 2020 formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Business Combination with OSR Holdings is the result of an active search for a potential business combination transaction utilizing the network and investing and transaction experience of BLAC’s management team and the BLAC Board. Significant Activities since Inception On February 14, 2023, BLAC consummated its IPO of an aggregate of 6,000,000 units, at $10.00 per unit (“ Units”), generating gross proceeds of $60,000,000 before underwriting discounts and expenses. Simultaneously with the closing of BLAC’s IPO, the Sponsor purchased an aggregate of 430,000 units at a price of $10.00 per unit, for an aggregate purchase price of $4,300,000 (“ Private Placement Units”). In connection with the IPO, the underwriters were granted a 45 -dayoption from the date of IPO prospectus (the “ Over-Allotment Option”) to purchase up to 900,000 additional Units to cover over -allotments(the “ Over-Allotment Units”), if any. On February 21, 2023, the underwriters purchased 900,000 Over -AllotmentUnits fully exercising the Over -AllotmentOption. The Over -AllotmentUnits were sold at an offering price of $10.00 per Over -AllotmentUnit, generating additional gross proceeds of $9,000,000 to BLAC. Effecting a Business Combination On November 16, 2023, BLAC entered into the Business Combination Agreement, which was amended and restated on May 23, 2024, and was further amended on December 20, 2024. As a result of the transaction and if approved at the BLAC Stockholders’ Meeting, BLAC will change its name to