BLAC amends PIPE to remove redemption features; modifies OSR deal put/call terms

OSR Holdings, Inc.

PIPE amendment removes redemption features from 222,222 Series A Preferred shares (Toonon, $20M at $90/share).
Business combination amendment adds termination date (120 days after Trigger Date) for Non-Participating Stockholder put/call rights.
Trigger Date is Jan 1, 2026 or upon Change in Control notification; BLAC must provide 20 business days' notice.
CEO Kuk Hyoun Hwang is also OSR Chairman; M&A Committee of independent directors approved both amendments.
S-4 registration statement remains pending; definitive proxy statement to be mailed to BLAC stockholders.

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