Company: BSAAR
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001213900-25-047458
Chunk: 301

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 301
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 all issued and outstanding shares are voted and the over -allotmentoption is not exercised). If only the minimum number of shares representing a quorum are voted and the over -allotmentoption is not exercised no public shares sold in this offering would be required to be voted in favor of a transaction in order to have our initial business combination approved. The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of our initial business combination on a one -for -onebasis, or earlier at the option of the holder, on a one -for -onebasis, subject to adjustment pursuant to certain anti -dilutionrights, as described herein and in our 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 this offering and related to the closing of the business combination, the ratio at which 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 or deemed issuance) so that the number of Class A ordinary shares issuable upon conversion of all Class B ordinary shares will equal, in the aggregate, 20% of the sum of all ordinary shares issued and outstanding upon completion of this offering, including pursuant to the Over -AllotmentOption, plus all Class A ordinary shares issued or deemed issued, or issuable upon the conversion or exercise of any equity -linkedsecurities issued or deemed issued in connection with or in relation to the business combination (excluding any shares or equity -linkedsecurities issued, or to be issued, to any seller in the initial business combination or any private placement -equivalentunits issued to our sponsor or its affiliates upon conversion of loans made to us). Holders of founder shares may also elect to convert their Class B ordinary shares into an equal number of Class A ordinary shares, subject to adjustment as provided above, at any time. The term “equity -linkedsecurities” refers to any debt or equity securities that are convertible, exercisable or exchangeable for our Class A ordinary shares issued in a financing transaction in connection with our initial business combination, including but not limited to a private placement of equity or debt. Securities could be “deemed issued” for purposes of the conversion adjustment if such shares are issuable upon the conversion or exercise of convertible securities or similar