Company: OSRH
Filing Date: 2025-01-31
Form Type: 424B3
Source: 0001213900-25-008874
Chunk: 373

Company: OSR Holdings, Inc.
Filing Date: 2025-01-31
Form: 424B3
Chunk 373
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 OSR Holdings is authorized to issue will provide New OSR Holdings flexibility for future issuances of preferred stock if determined by New OSR Holdings’ Board to be in the bests interest of New OSR Holdings without incurring the risk, delay and potential expense incident to obtaining stockholder approval for a particular issuance. Proposal No. 3C: Increase Vote Required for Removal of Directors Description of Amendment The Current Bylaws provide that directors may only be removed from office for cause and by the affirmative vote of holders of a majority of the voting power. The Amended Charter provides that directors may be removed by the affirmative vote of the holders of at least 66 2/3% of the voting power. 223 Reasons for the Amendment The BLAC Board believes that providing for a higher threshold for the removal of directors will increase board continuity and the likelihood that experienced board members with familiarity of New OSR Holdings’ business operations would serve on the New OSR Holdings board at any given time. Requiring a higher vote threshold for directors to be removed may make it more difficult or expensive for a third party to acquire control of New OSR Holdings without the approval of its board of directors. Proposal No. 3D: Eliminate Limitations on the Corporate Opportunity Doctrine Description of Amendment The Current Charter includes language to the effect that the “corporate opportunity” doctrine or any other analogous doctrine shall not apply with respect to BLAC or any of its officers or directors in circumstances where the application of such doctrine would conflict with the fiduciary duties or contractual obligations they may have as of the date of the Current Charter or in the future. This amendment would remove this provision that waives the “corporate opportunity” doctrine or any other analogous doctrine. Reasons for the Amendment The BLAC Board believes that it is desirable to amend the Current Charter to remove certain limitations on the corporate opportunity doctrine so that officers and directors will have a duty to communicate or present corporate opportunities belonging to New OSR Holdings to New OSR Holdings, not have the right to either hold any such corporate opportunity for their (and their affiliates’) own account and benefit where not permitted by Delaware common law or to recommend, assign or otherwise transfer such corporate opportunity to persons other than New OSR Holdings where not permitted by Delaware common law, and may be prohibited from operating or investing in certain competing businesses without presenting it to New OSR Holdings first. Proposal No. 3E: Reduce the Quorum Requirement for Stockholder Meetings Description of Amendment Under the Current Bylaws, a quorum will be