OSR Holdings, Inc. (OSRH): debt financing — Bellevue Life Sciences SPAC extends business combination deadline to Nov 14, 2024; 1.58M shares redeemed

OSR Holdings, Inc.

Stockholders approved charter amendment to extend deadline from May 14 to Nov 14, 2024.
1,581,733 shares (approx. 28% of outstanding) tendered for redemption.
Sponsor BGLSI to deposit $50,000 monthly into trust for each of six months through Oct 15, 2024.
Company issued $140,000 unsecured promissory note to sponsor, non-interest bearing, due Dec 31, 2024 or upon business combination.
Promissory note forgiven if no business combination, except trust account funds outside trust.

item 1.01 item 2.03 item 5.03 item 5.07 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

OSR Holdings, Inc. incurred loan of $140,000 with Bellevue Global Life Sciences Investors LLC at not interest bearing maturing the earlier of: (i) December 31, 2024 or (ii) the date on which the Company consummates an initial business combination.

Instrument: loan
Principal: $140,000
Counterparty: Bellevue Global Life Sciences Investors LLC
Rate: not interest bearing
Maturity: the earlier of: (i) December 31, 2024 or (ii) the date on which the Company consummates an initial business combination
Event: incurrence

Exact text from the filing

On May 14, 2024, Bellevue Life Sciences Acquisition Corp. (the " Company ") issued an unsecured promissory note (the " Promissory Note ") in the principal amount of $140,000 to Bellevue Global Life Sciences Investors LLC (" BGLSI "), the sponsor of the Company.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

OSR Holdings, Inc.: The Company amended its charter to extend the business combination deadline from May 14, 2024 to November 14, 2024 (effective 2024-05-14).

Change: charter amendment
Effective: 2024-05-14

Exact text from the filing

On May 14, 2024, the Company held a special meeting of its stockholders (the “ Special Meeting ”). At the Special Meeting, the Company’s stockholders approved a proposal (the “ Extension Amendment Proposal ”) to amend to the Company’s Amended and Restated Certificate of Incorporation (the “ Charter ”) to allow the Company to extend the date by which the Company must consummate a business combination from May 14, 2024, to November 14, 2024. The Certificate of Amendment to the Charter (the “ Charter Amendment ”) was filed with the Delaware Secretary of State and has an effective date of May 14, 2024.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

OSR Holdings, Inc. shareholders approved approval of adjournment of the Special Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies in the event that there are insufficient votes to approve the Extension Amendment Proposal or to establish quorum at the 2024-05-14 meeting.

Outcome: passed
Meeting: 2024-05-14

Exact text from the filing

Proposal 2 - Adjournment Proposal The stockholders approved the proposal to approve the adjournment of the Special Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies in the event that there are insufficient votes to approve the Extension Amendment Proposal or to establish quorum by the votes set forth in the table below: FOR AGAINST ABSTAIN BROKER NON-VOTES 3,831,081 507,414 — —

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

OSR Holdings, Inc. shareholders approved amendment to the Charter to allow the Company to extend the date by which the Company must consummate a business combination from May 14, 2024 to November 14, 2024 at the 2024-05-14 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2024-05-14

Exact text from the filing

Proposal 1 - Extension Amendment Proposal The stockholders approved the proposal to amend the Charter to allow the Company to extend the date by which the Company must consummate a business combination from May 14, 2024 to November 14, 2024 by the votes set forth in the table below: FOR AGAINST ABSTAIN BROKER NON-VOTES 3,835,399 503,096 — —

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310 debt financings filed in the last 30 days. Browse all debt financings →

OSR Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-138268

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