OSR Holdings Announces Major Capital Structure Optimization

Key Highlights from the April 9, 2026 Press Release

• OSR Holdings, Inc. (NASDAQ: OSRH) has eliminated a \$2.02 million warrant overhang through a strategic transaction with White Lion GBM Innovation Fund.
• The company issued a \$555,555 premium-priced convertible note to secure near-term liquidity and support ongoing strategic initiatives.
• The extinguished warrants were consolidated into the note, bringing its total face value to \$1,055,555.
• The convertible note has a fixed conversion price of \$1.00 per share—approximately a 100% premium to the previous closing price of \$0.49, as of April 8, 2026.
• Six-month restriction on conversion: No shares can be issued into the public float for six months, ensuring trading stability and preventing immediate dilution.
• The transaction is expected to remove technical barriers to equity performance and help advance the company’s strategic priorities in immunotherapy, degenerative disease, and medtech platforms.

Detailed Analysis

OSR Holdings, a healthcare holding company specializing in biomedical innovation, has taken decisive action to optimize its capital structure by eliminating a substantial warrant overhang. In a move that directly addresses shareholder concerns over potential dilution, the company has retired approximately \$2.02 million worth of outstanding warrants. These have been consolidated into a newly issued convertible promissory note.

Transaction Structure

• The company issued a \$555,555 convertible note to secure immediate liquidity for general corporate purposes and to further key strategic priorities.
• By incorporating the retired warrants, the total face value of the convertible note is now \$1,055,555.
• This approach represents a highly efficient balance sheet optimization, enabling the company to eliminate a significant source of potential dilution at a notable discount to the prior overhang value.

Premium Conversion Price

• The convertible note features a fixed conversion price of \$1.00 per share.
• This conversion price is approximately a 100% premium to the company’s most recent closing share price of \$0.49.
• The premium price demonstrates strong alignment with long-term shareholder value and positions the company favorably for NASDAQ minimum bid compliance.

Six-Month Conversion Restriction

• The note is unregistered and privately placed, with a six-month restriction on conversion.
• No shares will be issued into the public float during this period, mitigating immediate dilution risk and promoting near-term trading stability.

Management’s View

“This transaction is fundamentally about removing structural overhang and strengthening our equity story,” stated Peter Hwang, CEO of OSR Holdings. “By retiring over \$2 million in warrant overhang into a tightly structured instrument, we are meaningfully cleaning up our cap table. Furthermore, the \$1.00 conversion price and six-month restriction demonstrate a shared commitment by our investor to stabilizing our valuation as we focus on regaining NASDAQ minimum bid compliance.”

Implications for Investors

• Elimination of the warrant overhang reduces the risk of future dilution, which has been a technical barrier to share price performance.
• The premium conversion price is a unique feature in contrast to more typical discounted convertible structures, indicating investor confidence and alignment with long-term value creation.
• Six-month lock-up on conversion provides shareholders with near-term price stability, reducing the risk of sudden downward pressure on the stock.
• The transaction supports the company’s goal of maintaining NASDAQ listing compliance.
• The funds raised will support OSR Holdings’ continued advancements in its key focus areas: immuno-oncology, regenerative biologics, and medical device technologies.

About the Parties

White Lion GBM Innovation Fund is a strategic investor with a focus on funding opportunities in glioblastoma drug development, leveraging a wide network of experts and patient advocacy groups to guide impactful investments.

OSR Holdings, Inc. (NASDAQ: OSRH) is a global healthcare holding company dedicated to advancing biomedical innovations in health and wellness through its subsidiaries, with ongoing work in immuno-oncology, regenerative medicine, and medical devices.

For further information, investors are encouraged to contact OSR Holdings’ Investor Relations at [email protected] or visit www.OSR-Holdings.com.

Forward-Looking Statements

This article contains forward-looking statements, including statements regarding OSR Holdings’ capital structure, liquidity, and expected benefits of the financing. These statements are subject to risks and uncertainties that could cause actual results to differ materially. Investors are advised to review official filings with the U.S. Securities and Exchange Commission for further information. The company undertakes no obligation to update forward-looking statements except as required by law.

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