OSR Holdings Inc. (NASDAQ: OSRH) announced it has eliminated approximately $2.02 million in outstanding warrants by consolidating them into a convertible promissory note with White Lion GBM Innovation Fund.

The company issued a $555,555 convertible note to provide liquidity for general corporate purposes. The retired warrants were incorporated into the note, bringing the total face value to $1,055,555.

The convertible note carries a fixed conversion price of $1.00 per share, representing approximately a 100% premium to the company's closing price of $0.49 on April 8, 2026. The conversion price aligns with OSR Holdings' objective of maintaining compliance with NASDAQ minimum bid requirements.

The note includes a six-month restriction on conversion, preventing immediate share issuance into the public float during this period. The instrument was issued as a private placement without a registration statement.

"By retiring over $2 million in warrant overhang into a tightly structured instrument, we are meaningfully cleaning up our cap table," said Peter Hwang, CEO of OSR Holdings.

White Lion GBM Innovation Fund focuses on strategic funding opportunities in glioblastoma drug development and is sponsored by Innovate GBM.

OSR Holdings operates as a healthcare holding company with subsidiaries engaged in immuno-oncology, regenerative biologics, and medical device technologies. The company will provide additional transaction details in its filings with the Securities and Exchange Commission.