Company: BSAAR
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001213900-25-047458
Chunk: 376

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 376
---
 following the effective date of the registration statement of which the Proposed Public Offering forms a part except to any underwriter and selected dealer participating in the Proposed Public Offering and their officers, partners, registered persons or affiliates. F-15 BEST SPAC I ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS Note 7 — Shareholder’s (Deficit) Equity Preferred Shares— The Company is authorized to issue a total of 1,000,000 preferred shares with no par value. As of December 31, 2024, there were no shares of preferred shares issued or outstanding. Class A Ordinary Shares— The Company is authorized to issue a total of 100,000,000 Class A ordinary shares with no par value. As of March 31, 2025 and December 31, 2024, there were no shares of Class A ordinary shares issued or outstanding. Class B Ordinary Shares— The Company is authorized to issue a total of 10,000,000 Class B ordinary shares with no par value. On December 13, 2024, the Company issued 1,581,250 Class B ordinary shares to the Sponsor for $25,000, or approximately $0.016 per share, including an aggregate of up to 206,250shares subject to forfeiture if the over -allotmentoption is not exercised by the underwriters in full. As of March 31, 2025 and December 31, 2024, 1,581,250 Class B ordinary shares were issued or outstanding. The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the initial Business Combination, or earlier at the option of the holder, on a one -for -onebasis, subject to adjustment pursuant to certain anti -dilutionright, share splits, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein and in the Company’s amended and restated memorandum and articles of association. In the case that additional Class A ordinary shares, or equity -linkedsecurities, are issued or deemed issued in excess of the amounts sold in the Proposed Public Offering and related to the closing of the initial Business Combination, the ratio at which the Class B ordinary shares shall convert into Class A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class B ordinary shares agree to waive such anti -dilutionadjustment with respect to any such issuance