Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 100

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 100
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), in which case BLAC’s public stockholders may only receive $[•] per share, or less than such amount in certain circumstances, and BLAC’s warrants and rights will expire worthless. BLAC has received approval from our stockholders to extend the time period for completing the Business Combination to February 14, 2025 (unless such date is extended in accordance with the Existing Governing Documents). If BLAC has not completed its initial business combination by that date, it will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, subject to lawfully available funds therefor, redeem the public shares at a per -shareprice, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining stockholders and the BLAC Board in accordance with applicable law, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. In such case, our public stockholders may only receive $[•] per share, and BLAC’s warrants and rights will expire worthless. BLAC’s Chief Executive Officer and one of our directors was previously the Chief Executive Officer and is currently the Chairman of the Board of OSR Holdings. These dual positions (i) create conflicts of interest in the performance of his duties; and (ii) may provide for him to receive compensation following the Business Combination that amplifies his conflicts of interest in determining whether the transaction is the most advantageous. BLAC’s Chief Executive Officer and one of its directors, Kuk Hyoun Hwang, was previously the Chief Executive Officer and is currently the Chairman of the Board of OSR Holdings ,BLAC’s target company for the Business Combination. Such dual positions may cause him to have conflicts of interest in performing his duties to both companies, since BLAC and OSR Holdings are directly adverse in the negotiations of the Business Combination Agreement. Further, Mr. Hwang is expected to remain with