OSR Holdings set to trade on Nasdaq after merger

SEOUL - Bellevue Life Sciences Acquisition Corp. (BLAC), now known as OSR Holdings, Inc., announced the approval of a business combination with OSR Holdings Co., Ltd. at a special stockholders meeting held today. The transaction is anticipated to close following the expected approval from the Industrial Bank of Korea on February 14, 2025. The company’s stock, currently trading at $7.10, has experienced significant volatility, with a 45% decline over the past week according to InvestingPro data.

Upon finalization, OSR Holdings will own a majority stake in OSR Holdings Co., Ltd., with the latter’s stockholders holding an additional 22% of shares, having entered into agreements for potential future acquisition by OSR Holdings. The combined entity’s common stock and warrants are scheduled to commence trading on the Nasdaq Stock Market LLC under the ticker symbols "OSRH" and "OSRHW," respectively, on February 18, 2025. With a current market capitalization of $24.85 million, InvestingPro analysis indicates a weak financial health score of 0.63, suggesting potential challenges ahead. Subscribers can access 8 additional ProTips and comprehensive financial metrics.

Kuk Hyoun Hwang, President and CEO of OSR Holdings, shared his optimism for the merger, highlighting the strategic alignment with the company’s global healthcare vision. The business combination is expected to bolster OSR Holdings’ efforts in advancing its subsidiaries and drug pipelines. Investors should note that the company’s current ratio of 0.01 indicates potential liquidity concerns, according to InvestingPro metrics.

OSR Holdings’ portfolio includes subsidiaries engaged in the development of immunotherapies for cancer, therapies for degenerative diseases, and medical device distribution in Korea. With the closing of the transaction, the company will continue operations in the US, Europe, and South Korea.

This press release contains forward-looking statements regarding the anticipated benefits and timing of the business combination. These statements are subject to risks and uncertainties, including regulatory approvals and market conditions. The information in this article is based on a press release statement.

In other recent news, Bellevue Life Sciences Acquisition Corp. has been making strategic financial adjustments. The company recently extended the maturity date of its promissory notes to September 30, 2025. These notes, originally issued to the company’s sponsor, Bellevue Global Life Sciences Investors, LLC, total $1,690,000. This amendment provides Bellevue Life Sciences with a more predictable financial timeline, allowing the company to continue operating and seeking out strategic opportunities.

In addition, Bellevue Life Sciences has made significant amendments to its agreements with Toonon Partners Co., Ltd. and OSR Holdings Co., Ltd. These amendments are part of the company’s ongoing efforts to finalize a business combination with OSR Holdings. The adjustments made to the agreements aim to align the interests of all parties involved in the merger, including addressing potential conflicts of interest.

These recent developments are based on press release statements and the company’s filings with the Securities and Exchange Commission. They reflect Bellevue Life Sciences’ commitment to maintaining transparency and ensuring that all material information is accessible.

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