Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 306

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 306
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holders as required by the Company’s Amended and Restated Certificate of Incorporation. The BLAC M&A Committee initially engaged a financial advisor based in Switzerland to render the fairness opinion. This decision was made at the time that it was anticipated that OSR Holdings would acquire LBV and the resulting company would be more heavily oriented in Europe. However, when OSR Holdings and LBV terminated their agreement, the BLAC M&A Committee determined that it would be more appropriate to engage a financial advisor in Korea because OSR Holdings’ operations would be more heavily weighted toward that geography. In April 2024, the BLAC M&A Committee retained Choloc Asset Investment Advisory Co., Ltd., a financial advisory firm based in Seoul, Korea (“Choloc”), to evaluate the fairness, from a financial point of view, of the Business Combination to the BLAC stockholders. On June 23, 2024, Choloc presented to the BLAC M&A Committee a draft fairness opinion that they were prepared to render on the Business Combination, to the effect that, as of that date and based on and subject to the assumptions made, procedures followed, matters considered and 184 qualifications and limitations on the review undertaken described in such opinion, the Business Combination is fair, from a financial point of view, to the BLAC stockholders. On September 17, 2024, Choloc rendered its fairness opinion to the BLAC M&A Committee. The full text of Choloc’s written opinion, dated September 17, 2024, which describes the assumptions made, procedures followed, matters considered, and qualifications and limitations on the review undertaken, is attached as Annex I and is incorporated by reference in this document. The summary of the written opinion of Choloc, dated September 17, 2024, set forth in this proxy statement/prospectus is qualified in its entirety by reference to the full text of Choloc’s opinion attached as Annex I. Choloc’s opinion was rendered to the BLAC M&A Committee in connection with its evaluation of the Business Combination and it does not address any terms or other aspects (other than the consideration to the extent expressly specified in Choloc’s opinion) of the transactions contemplated by the Business Combination Agreement. Choloc’s opinion does not address the BLAC M&A Committee’s or the BLAC Board’s underlying business decision to effect such transactions or the relative merits of such transaction as compared to any alternative business strategies or transactions that might be available to BLAC and