OSR Holdings, Inc. (NASDAQ: OSRH)

Bellevue Life Sciences Acquisition Corp., or BLAC, operates in the healthcare industry, specifically within the biotechnology sector. The company was formed in February 2020 with the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. BLAC generates revenue through the sale of its units, which consist of one share of common stock, one warrant, and one right, and are listed on the Nasdaq Capital Market under the symbols BLAC, BLACW, and BLACR. The company's customer base is comprised of institutional investors, individual investors, and other market participants.

BLAC's business strategy is to identify a prospective target business and acquire it through a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination. The company plans to focus on a healthcare holding company that owns controlling interests in subsidiaries operating in the subsectors of its interests within the healthcare industry, including biopharmaceutical, medical devices, and healthcare technology. The company believes that the portfolio investment approach via a holding company model provides competitive advantages over investing in individual companies in terms of risk-adjusted returns deliverable to its stockholders. The strategy is supported by diversification, liquidity, and flexibility.

The company's target profile includes a healthcare holding company that operates by acquiring and managing a portfolio of subsidiaries and investments in companies engaged in the research, development, manufacturing, and distribution of healthcare products. The company's general criteria and guidelines for investment include a diversified portfolio of subsidiaries and investments, strong financial management capabilities, regulatory expertise, business development, and talent management.

In November 2023, BLAC announced that it had entered into a Business Combination Agreement with OSR Holdings Co. Ltd., a corporation organized under the laws of the Republic of Korea. The agreement is subject to customary closing conditions, including approval by the Company's stockholders and the receipt of regulatory approvals.

In February 2024, BLAC received a notification from the Listing Qualifications Department of Nasdaq notifying the Company that it no longer meets the minimum 300 public holders requirement for The Nasdaq Capital Market. The Company submitted a plan to regain compliance with the requirement.

In April 2024, the Company issued an unsecured promissory note in the principal amount of $1,200,000 to its sponsor, Bellevue Capital Management, LLC, to fund working capital and other expenses.

BLAC's management team has an extensive track record of creating value for clients and stockholders by acquiring emerging businesses at compelling valuations, investing in growth while fostering financial discipline, and improving financial results.

As a blank check company, BLAC has no specific business plan or operations and is focused on identifying and acquiring a target business. In the event that BLAC fails to complete its initial business combination within 15 months or such other time period as its stockholders may approve from the closing of its IPO, the company will cease all operations except for the purpose of winding up, redeem the outstanding public shares, and dissolve and liquidate. The company will distribute the funds held in the Trust Account to its public stockholders and will not be subject to any claims of creditors.