More than 20 years ago A.Paul Fisette, director of the Building Materials and Wood Technology program at the University of Massachusetts in Amherst said " OSB is usually bonded with phenol formaldehyde in conformance with the ANSI A208 standard (1-1989, Grade 2-M-W). This resin reacts to become insoluble, resulting in negligible or no offgassing. The miniscule amounts of formaldehyde will dissipate in time." *

Today, more than half of OSB is made with MDI (Methylenediphenyl diisocyanate) binders, not formaldehyde.

Unless you're working with uncured products, "indications are that once MDI is cured, the emissions from the product are insignificant and not comparable to the hazards of formaldehyde binder emissions," according to the Global Health and Safety Initiatives, a group of 14 major US hospitals and health care providers. **

Harmful or not, the initial odor may be unpleasant and it will be difficult to apply a finish.

Try the finish you're thinking of on a quarter or half panel and decide if it's for you.

Personally, I think plywood is more aesthetically pleasing.

Osaka, Japan plywood interior. Hitotomori, arch.

If you are considering OSB I would also look at using Advantech subflooring (another type of OSB material) for your construction. Its more moisture resistant and will hold fasteners much better than standard OSB.

Bruce

The difficult part is the edges. You may need access to a very large table saw. I prefer Baltic Birch plywood because the edges are tougher and more attractive. My office tables are two layers thick. There's a company near me that cuts full sheets of any kind of plywood to size but not OSB.

I used standard osb on walls in basement of a house (no finish). It did smell for awhile. The edges splinter with a framing blade on a circular saw so experiment with different saw blades for an even cut. Osb has a rough and smooth side. I believe the grade stamp is on the smooth side. I've painted it once or twice. It absorbs finish like mad. The OSB you've seen that you like may be a special product made to be finished. I've seen in a restaurant. Interesting.