Menu
Compare

Completed · 14 Feb 2025BLACU · NasdaqCIK 1840425Sponsor at IPO: Bellevue Global Life Sciences Investors LLC

Bellevue Life Sciences Acquisition Corp.

Now OSR Health, Inc. · formerly OSR Holdings, Inc. · Name history

$70.2MTrust raised at IPO · 1% of public shares left after its last counted vote

Merged with OSR Holdings, Inc. (OSRH) · Healthcare and life sciences

  1. IPO9 Feb 2023
  2. Searching9 months
  3. Deal announcedAgreement signed
  4. Closed14 Feb 2025

Tavia Read What stands out, from the filings · snapshot 14

  1. 01

    Smaller than 77% of 2023’s SPAC IPOs.

    $69M raised, against a median of $69M for the 31 SPACs that priced in 2023.

  2. 02

    $10.18 in trust per unit, above the 2023 median.

    The median that year was $10.10. Above $10.00, the sponsor tops up the trust from its own private placement.

  3. 03

    99% of public shares redeemed across 4 votes.

    3 extension votes and the merger vote, counted from the SPAC’s 8-Ks. 1% of the public shares remained after the last one.

  4. 04

    Closed its merger 24 months after its IPO.

    The combined company is OSR Holdings, Inc. (OSRH). Sector: Healthcare and life sciences.

Worked out from checked figures in snapshot 14 · no forecasts or advice

Key terms

Other 2023 SPAC IPOs →
IPO priced
9 Feb 2023
IPO closed
14 Feb 2023
Raised
$69M
Units sold
6,900,000
Trust raised
$70.2M1
Trust per unit
$10.182
Unit
1 sh + 1 warrant + 1 right (1/10)3
Months to complete
94
Deadline before extensions
14 Nov 2023
Over-allotment
Exercised in full

Each unit: “one share of common stock, one warrant, and one right to receive one-tenth (1/10) of a share of common stock”

Name history

The same company under every name it has filed with the SEC, tracked by its CIK, 1840425. This page keeps its IPO name; the others lead here.

  1. Bellevue Life Sciences Acquisition Corp.At IPO12 Mar 2021 – 13 Feb 2025
  2. OSR Holdings, Inc.20 Dec 2023 – 11 Jun 2026
  3. OSR Health, Inc.Now11 Jun 2026 – today

Dates are those EDGAR records for each name, as of 16 October 2026. A name change follows a shareholder vote or a merger’s closing, and is reported in an 8-K.

How it compares

Bellevue Life Sciences Acquisition Corp. against the 31 SPACs that priced in 2023.

Raised
$69M
32% of 2023 SPACs match it
2023 median: $69M
Trust per unit
$10.18
68% of 2023 SPACs are below it
2023 median: $10.10
Months to complete
9
26% of 2023 SPACs match it
2023 median: 12
Redeemed across its votes
99%
79% of 2023 SPACs are below it
2023 median: 95%

Trust and redemptions

  1. Extension vote · 9 Nov 20233,432,046 of 6,900,000 redeemed (50%)
  2. Extension vote · 14 May 20241,581,733 of 3,467,954 redeemed (46%)
  3. Extension vote · 12 Nov 20241,766,469 of 1,886,221 redeemed (94%)
  4. Merger vote · 13 Feb 202557,821 of 119,752 redeemed (48%)

Public shares before each vote and the shares redeemed, as its 8-Ks (or the next 10-Q or 10-K) state them. Only votes whose redemptions were paid count.

Firms named in the prospectus

Company counsel

Underwriters’ counsel

Sponsor

No other SPAC from Bellevue Global Life Sciences Investors LLC or a vehicle of the same name priced since 1 January 2019.

Peers

Other 2023 SPAC IPOs with Chardan Capital Markets, LLC as bookrunner.

SPACIPORaisedUnitStatus
Bayview Acquisition Corp14 Dec 2023$60M1 sh + 1 right (1/10)Deal announced
Global Lights Acquisition Corp13 Nov 2023$69M1 sh + 1 right (1/6)Searching

Sources

  1. PFinal prospectus: 0001193125-23-035877
  2. 1Trust raised: 0000898432-23-000132A total of $70,207,500 of the proceeds from the IPO (including the proceeds from the sale of the Option Units) and the Private Placement were placed in a U.S.-based trust account
  3. 2Trust per unit: 0001193125-23-035877$10.175 per public unit sold in this offering will be placed in a trust account at J.P. Morgan Chase Bank, N.A., maintained by
  4. 3Unit composition: 0001193125-23-035877Each unit consists of one share of our common stock, par value $0.0001, one warrant, and one right.
  5. 4Months to complete: 0001193125-23-035877We have 9 months to consummate our initial business combination or such later time period as may be approved by a majority

Each quote is found word for word in the filing it cites. Where a figure here differs from the filing, the filing prevails.

How the figures are compiled
  • Which IPOs. Every final IPO prospectus (Form 424B4 or 424B1, or a 424B3 when it is the first prospectus filed on an S-1 or F-1 registration within 10 days of it going effective) filed on SEC EDGAR from the history start, by a registrant whose SIC code was 6770 (blank checks) on the filing date. Offerings that are not exchange-listed SPAC IPOs are excluded when the prospectus is read. The window starts on 1 January 2021.
  • Dated by. The date of the final prospectus.
  • Raised. Units sold to the public, including over-allotment units, times the unit price, as stated in the SPAC's 8-K reports after the IPO.
  • Trust. The trust held for public shareholders after the IPO and any over-allotment: trust per unit times public units, as stated in the SPAC's filings. Cash deposited in trust and then moved out as working capital is not counted.
  • Bookrunners. Firms the prospectus names as book-running managers; where it names none, the firm it names as sole underwriter or representative of the underwriters. Only the prospectus's own wording counts, not later 8-K reports. Each IPO's gross proceeds are split equally among its bookrunners.
  • Counsel and auditors. Issuer counsel and underwriters' counsel as named in the prospectus's Legal Matters section; the auditor as named in its Experts section. Each is credited with the IPO's full gross proceeds.
  • Unit structure. What one unit consists of, as the prospectus states it: a share with warrants, with rights, with both, or a share alone (shares-only offerings sell no units). Warrants per unit is the fraction of a warrant in each unit; rights are measured as the fraction of a share they convert into per unit.
  • Trust per unit. Dollars placed in the trust account for each unit sold to the public, as the prospectus states it.
  • Time to complete. Months from the IPO closing that the SPAC has to complete its business combination before any extension, as the prospectus states it.
  • Over-allotment. Whether the underwriters bought all, part or none of the over-allotment option, comparing units sold with the base offering and the option.
  • Votes. Shareholder votes to extend a SPAC's deadline or to approve its business combination, as reported in its 8-Ks (Item 5.07), for the SPACs in the IPO statistics only: SPACs that priced before the history start are not included, so votes in the first years under-represent the market. Only redemptions actually paid count: votes on a proposal that failed, or an extension that was approved but never took effect, are left out (redemption requests lapse with them), and a merger vote counts only when the deal closed, and only the last merger vote before the closing, since merger redemptions are paid at closing. Liquidation votes are left out too, as every public share is redeemed by definition.
  • Redemption rate. Public shares redeemed at a vote over public shares outstanding just before it. Shares redeemed are as an 8-K, or failing that the next 10-Q or 10-K, states them. Shares before are as a filing states them, or redeemed plus the shares left after, or carried from the IPO's public shares and earlier votes. The median is the typical vote; the weighted rate divides all shares redeemed by all shares before, the share of public money that left the trusts. A vote counts only when each of these figures is verified or accepted. Votes whose redemption count no filing states, after a search of the SPAC's and the combined company's filings, are counted as not disclosed rather than estimated.
  • Outcomes. Where each SPAC stands as of the snapshot: completed (business combination closed), liquidated (trust returned and redeemed), deal pending (agreement signed, not closed) or searching (no agreement in force). Grouped by the year the SPAC priced its IPO. Awaiting review means its status is still being checked.
  • Closings. Completed business combinations by year of closing. The sector is the SEC's industry code (SIC) of the combined company, grouped into broad sectors; months from IPO run from the prospectus date to the closing.
  • Checking. A SPAC counts only when every required figure is verified (quote found verbatim in the filing and all cross-checks pass) or accepted by a named reviewer.
  • Coverage. 1,077 of the 1,089 SPAC IPOs read are counted; 12 wait on a figure still under review and 11 filings were excluded as not exchange-listed SPAC IPOs.

Compiled from SEC filings with the assistance of AI · figures as of 3 November 2026

For information only. These figures are compiled from SEC filings with the assistance of AI. Although they are checked against those filings, they may contain errors or omissions and have not been audited; where they differ from the filings, the filings prevail. They are not an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. Information about any SPAC is qualified in its entirety by its filings with the SEC, available at www.sec.gov.