Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 55

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1
Chunk 55
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 the PIPE investment based upon its assessment of macroeconomic factors specific to Korean markets. If the Company fails to secure
other funding in the next few months, the Company could enter bankruptcy proceedings and the value of the stock and warrants of the Company
would likely become worthless.

30

The Sponsor and the Company’s directors and officers have
interests that are different from or that conflict with the interests of the Company’s stockholders and that may
have influenced their analysis of whether the Business Combination with the Company is appropriate as BLAC’s initial business
combination. Such interests include that the Sponsor will lose its entire investment in BLAC if the Business Combination is not completed.

The personal and financial interests of the Sponsor as well as the
Company’s directors and officers may have influenced their motivation in identifying and selecting OSR as an initial business combination
target, completing an initial business combination with OSR and may influence the operation of the business following consummation of
the initial business combination.

Following the consummation of the Business Combination, the Company’s
only significant asset will be its ownership of OSR and such ownership may not be sufficient to pay its expenses or satisfy other financial
obligations.

Following the consummation of the Business Combination, the Company
will be a holding company and will not directly own any operating assets other than its ownership of interests in OSR. The Company
will depend on OSR for distributions, loans and other payments to generate the funds necessary to meet its financial obligations, including
its expenses as a publicly traded company. The earnings from, or other available assets of, the Company may not be sufficient to pay expenses
or satisfy the Company’s other financial obligations.

The Company’s principal stockholders and management own
a significant percentage of Company Common Stock and are able to exert significant control over matters subject to stockholder approval.

Our executive officers, directors and their affiliates and our principal
stockholders beneficially hold, in the aggregate, approximately 92.9% of the outstanding shares of Company Common Stock. These stockholders,
acting together, would be able to significantly influence all matters requiring stockholder approval, including the proposals presented
at the Company Stockholders’ Meeting. For example, these stockholders would be able to significantly influence elections of directors,
amendments of our organizational documents, or approval of any merger, sale of assets, or other major corporate transaction. This may
prevent or discourage unsolicited acquisition proposals or offers for our common stock that stockholders may feel are