Bellevue Life Sciences Approves OSR Holdings Name Change
Deal News | Feb 13, 2025 | EIN
Bellevue Life Sciences Acquisition Corp. (BLAC) has announced the successful approval of its business combination proposal during a special meeting held in Seoul, South Korea. The decision entails a significant structural change, including a name change to OSR Holdings, Inc., following a merger with OSR Holdings Co., Ltd. The transaction is contingent on receiving foreign investment approval from the Industrial Bank of Korea, expected on February 14, 2025, with Nasdaq trading commencing on February 18, under the symbols OSRH and OSRHW. Post-transaction, OSR Holdings will control approximately 67% of OSR Holdings Co., Ltd., with options for acquiring an additional 22% through put/call provisions from 2026. The reorganization signifies a strategic endeavor to enhance and expand its healthcare subsidiaries and drug development pipeline globally. The transformative efforts are set to advance the company's corporate strategies in the US, Europe, and South Korea, with expansions in oncology and degenerative disease therapies. Risks related to regulatory approvals and execution capabilities are highlighted as key considerations for stakeholders.
Sectors
- Healthcare
- Financial Services
Geography
- South Korea – The article states that the business meeting and significant decisions were confirmed in Seoul, South Korea, and mentions operations within the country.
- United States – OSR Holdings will conduct its business operations and commence Nasdaq trading in the U.S. following the transaction.
- Europe – OSR Holdings aims to continue and expand its business operations into Europe as part of its global strategy.
Industry
- Healthcare – The article extensively describes OSR Holdings Co., Ltd.'s operations and its subsidiaries, which focus on developing therapies and medical devices for various health conditions, indicating its primary industry as healthcare.
- Financial Services – The transaction involves a merger facilitated by Bellevue Life Sciences Acquisition Corp., signifying involvement in corporate finance activities within the financial services industry.
Financials
- NA – The article does not explicitly state financial figures related to the transaction, such as deal price or accumulated value.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bellevue Life Sciences Acquisition Corp. | Selling Company | Company | A special purpose acquisition company facilitating the merger and business combination with OSR Holdings Co., Ltd. |
| OSR Holdings Co., Ltd. | Target Company | Company | A global healthcare company focused on developing innovative therapies and healthcare solutions. |
| OSR Holdings, Inc. | Bidding Company | Company | The new entity formed after Bellevue Life Sciences Acquisition Corp.'s merger and name change to continue global healthcare initiatives. |
| Industrial Bank of Korea | Government | Company | Expected to grant foreign investment approval necessary for completing the transaction. |
| Kuk Hyoun Hwang | Chairman & CEO | Person | Chairman and CEO of OSR Holdings, Inc., driving the strategic merger and business operations. |
| Sang Hoon Kim | CEO | Person | CEO of OSR Holdings Co., Ltd., aligning corporate strategy post-transaction. |