Bellevue Life Sciences Acquisition Advances Loan to OSR Holdings, Details 8-K Filing

Bellevue Life Sciences Acquisition Corp. recently disclosed a significant move in its 8-K filing with the Securities and Exchange Commission (SEC). On October 25, 2024, the company extended a $300,000 loan to OSR Holdings Co., Ltd. The loan is backed by a promissory note—termed the “OSR Holdings Promissory Note”—bearing an annual interest rate of 3.96%. The loan is set to mature on October 25, 2025, with interest payments only upon maturity. The agreement outlines specific events constituting a default, including failure to settle the outstanding balance within five business days post-maturity and the initiation of a bankruptcy action. The funds are designated for working capital and other expenses of OSR Holdings.

The OSR Holdings Promissory Note is included as Exhibit 10.1 in the aforementioned 8-K filing and is therefore referenced within it. While the filing provides a summary of the relevant details, the specifics of the promissory note take precedence.

In a broader context, Bellevue Life Sciences Acquisition Corp. has registered a Form S-4 with the SEC. This registration involves a preliminary proxy statement and a prospectus aligned with the proposed Business Combination, pursuant to an Amended and Restated Business Combination Agreement. The business combination encompasses the interests of the company, OSR Holdings, participating stockholders of OSR Holdings, and non-participating stockholders. The definitive proxy statement, along with other pertinent documents, will be dispatched to the company’s stockholders for voting on the upcoming Business Combination. Stockholders and interested parties are advised to review these materials for critical information concerning the business move.

Participants involved in the solicitation of proxies for the business combination include Bellevue Life Sciences Acquisition Corp., OSR Holdings, their directors, executive officers, and other management members. These individuals may be considered participants as per SEC regulations. Detailed information on these participants can be found in the Registration Statement and the Company’s recent Annual Report on Form 10-K.

The 8-K filing also includes forward-looking statements, within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, outlining potential business outcomes. These projections bear significance on the contemplated business combination and the subsequent performance of the involved entities. However, risks and uncertainties are also acknowledged, emphasizing factors beyond control that could impact the final results.

Lastly, it’s important to note that this 8-K filing does not constitute a solicitation or offer to purchase or sell securities. Any potential transaction remains subject to legal requirements and is contingent on compliance with relevant laws and regulations.

As the filings indicate, Bellevue Life Sciences Acquisition Corp. continues to navigate strategic partnerships and financial agreements aimed at enhancing its operational standing and strategic positioning in the market.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Bellevue Life Sciences Acquisition’s 8K filing here.

Bellevue Life Sciences Acquisition Company Profile

Bellevue Life Sciences Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities in the healthcare industry. The company was incorporated in 2020 and is based in Bellevue, Washington.