Company: OSRH
Filing Date: 2025-01-24
Form Type: S-4/A
Source: 0001213900-25-006139
Chunk: 277

Company: OSR Holdings, Inc.
Filing Date: 2025-01-24
Form: S-4/A
Chunk 277
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 27, 2023, LBV and their counsel, Fromer Advokatur und Notariat, and OSR Holdings and their counsel, BMKLP, exchanged emails regarding the SPA. By email dated November 27, 2023, counsel for OSR Holdings, Mr. Mamoudjy of BG2V, delivered its final due diligence report on LBV and its portfolio companies. December 9 through 11, 2023 By emails dated December 9 through11, 2023, Messrs. Sellam and Hwang exchanged drafts of a binding term sheet between OSR Holdings and LBV. December 11, 2023 By email dated December 11, 2023, Mr. Hwang sent Mr. Sellam a version of a binding term sheet between OSR Holdings and LBV executed by OSR Holdings. December 12, 2023 On December 12, 2023, OSR Holdings and LBV executed a binding term sheet for OSR Holdings’ acquisition of LBV. March 18, 2024 On March 18, 2024, OSR Holdings and LBV mutually agreed to terminate the binding term sheet and letter of intent between them, and mutually agreed not to pursue the acquisition of LBV by OSR Holdings. Discussions between OSR Holdings and LBV regarding the termination were brief and amicable, and primarily consisted of acknowledging that the transaction wasn’t in the best interest of either company at the time because OSR Holdings pursues its Hub -and-Spokebusiness model with the Hub (holding company) owning controlling interests in the Spokes (subsidiaries) while LBV deployed a different model and held minority interests in its portfolio companies. While OSR Holdings and LBV believed, when they first entered into the term sheet and letter of intent, that OSR Holdings would be able to acquire all or a controlling interest in LBV’s portfolio companies, it became clear that it would require significant additional capital and extensive negotiations with the rest of the stakeholders in LBV’s portfolio companies in order for OSR Holdings to accomplish that goal. As a result, OSR Holdings decided that it did not want to commit the additional resources to pursue the LBV acquisition. The BLAC M&A Committee determined to terminate the engagement with the prior fairness opinion provider after OSR Holdings terminated its pursuit of an acquisition of LBV, because without LBV, the majority of OSR Holdings’ operating assets will be located in Korea, in which case the BLAC