Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 598

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 598
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 be used to repay the Working Capital Loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $ 1,000,000of such Working Capital Loans may be convertible into Units at a price of $ 10.00per Unit. The Units would be identical to the Private Placement Units. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. Loans made by Chardan or any of its related persons, if any, will not be convertible into any of the Company’s securities, and Chardan and its related persons will have norecourse with respect to their ability to convert their loans into any of the Company’s securities. As of December31, 2023 and 2022, noWorking Capital Loans were outstanding. Administrative Support Agreement Beginning on March1, 2023, the Company agreed to pay BCM, an affiliate of members of the Sponsor, a total of $ 7,500per month for office space, utilities, secretarial and administrative support. Upon completion of the Business Combination or the Company’s liquidation, the Company will cease paying these monthly fees. During the years ended December31, 2023 and December31, 2022, the Company incurred $ 90,000and $ 75,000, respectively, of administrative support fees which are included in general and administrative expenses in the accompanying statements of operations. As of December31, 2023, the outstanding balance was $ 15,000recorded as due to affiliate. Due to Affiliate On August17, 2021, the Sponsor agreed to advance the Company up to $ 10,000. On February17, 2022, the Company repaid $ 10,000to the Sponsor. On April28, 2022, the Sponsor agreed to advance the Company up to an additional $ 10,000. On April29, 2022, the Sponsor agreed to advance an additional $ 7,000. These advances are due on demand and are non -interest-bearing. During the year ended December31, 2023, the Sponsor advanced $ 180,000of funds to the Company and Company repaid $ 140,000. Beginning on March1, 2023, the Company agreed to pay an affiliate of members of the Sponsor a total of $ 7,500per month for office