Company: OSRH
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001213900-25-007923
Chunk: 253

Company: OSR Holdings, Inc.
Filing Date: 2025-01-29
Form: S-4/A
Chunk 253
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2023 video conference via text messages and phone calls. On or around April 27, 2023, Mr. Whang informed Company A’s President and CEO that BLAC was considering a transaction with OSR Holdings, and that BLAC could not proceed with Company A if they were not open to the possibility of an acquisition by OSR Holdings. This was the last communication between BLAC and Company A. Company B Another alternative target that BLAC considered (“Company B”) was introduced to BLAC on March 10, 2023 by Mr. Whang, whose personal acquaintance is an investor and advisor to the company (“Investor A”). Mr. Whang had met with Investor A and a business partner of Investor A in September 2022 in New York City, during which time they discussed Company B’s technology and capital raising efforts. Company B produces affordable and portable home testing kits that produce rapid and accurate results, with applications to hematology, pathology, oncology and possibly other areas. Mr. Whang told Investor A about BLAC’s upcoming IPO, but did not discuss the possibility of Company B being a potential target for a business combination at this time. Subsequently, after BLAC’s IPO on February 14, 2023 and beginning on March 9, 2023, Mr. Whang, via text messages, emails and phone calls, discussed with Investor A the possibility of a business combination between BLAC and Company B, and Investor A expressed an interest in exploring this possibility. Investor A was generally aware of the SPAC market, including the volatility in the SPAC market over the previous two years. 148 Mr. Whang shared Company B’s non -confidentialdeck by email dated March 10, 2023 with members of BLAC (Mr. Hwang) and OSR Holdings (Sung Hoon Chung, Yeiseok Kim and Sung Jae Yu) for a preliminary review of Company B’s science and technology and the company’s current and projected financial status. As discussed above, in evaluating potential target companies together, BLAC management and the BLAC Board worked closely with individuals at OSR Holdings who have experience in the biotechnology and biopharmaceutical industries to assist with performing scientific due diligence on potential target companies, including evaluating their asset pipelines, drug candidates, products, and the biopharmaceutical and biotechnology expertise of the target companies’ management and team members, as applicable. By telephone communications in late March, Mr. Whang told Investor A that one strategy under