OSR Holdings Co., Ltd. Enters Into Business Combination Agreement with Bellevue Life Sciences Acquisition Corp.
BELLEVUE, Wash. and SEOUL, South Korea, Nov. 16, 2023 /PRNewswire/ — Bellevue Life Sciences Acquisition Corp. (Nasdaq: BLAC), a publicly traded special purpose acquisition company (“BLAC”), and OSR Holdings Co., Ltd. (“OSR Holdings”), a global healthcare holding company, announced today that they have entered into a business combination agreement. Upon closing of the transaction, outstanding shares of OSR Holdings held by certain of the holders of OSR Holdings’ common stock will be exchanged for newly issued shares of BLAC common stock. Following the closing, BLAC will own at least 60% of the outstanding shares of OSR Holdings (and have the right to acquire the remainder of the shares on or after January 1, 2025 or 2026 or in connection with a change in control of BLAC). Concurrent with the closing of the business combination, BLAC intends to change its name to OSR Biosciences, Inc. and have its common stock and warrants be listed on Nasdaq Capital Market under new ticker symbols.