Company: BSAAR
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001013762-25-004269
Chunk: 343

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-03-28
Form: S-1
Chunk 343
---
 a Special Purpose Acquisition Company. Notwithstanding the foregoing, if a target company — in connection with a business combination — sources a PIPE (as defined in section 8 of the underwriting agreement), the aforementioned right of first refusal shall not apply in such a limited instance. In accordance with FINRA Rule 5110(g)(6), such right of first refusal shall not have a duration of more than three years from the commencement of sales of this offering. Tail Fee If, within twelve (12) months following the closing of this offering, we complete any financing of equity, equity -linked, convertible or debt securities, or other capital raising activity (other than the exercise by any person or entity of any options, rights or other convertible securities) with any investor that Maxim introduced, those who invested, or those to whom Maxim sent a prospectus in connection with this offering, then we will pay to Maxim 5.5% of the gross proceeds received from such investors upon the closing of such offering. Regulatory Restrictions on Purchase of Securities In connection with the offering, the underwriters may purchase and sell units in the open market. The underwriters have advised us that, in accordance with Regulation M under the Securities Exchange Act of 1934, as amended, they may engage in short sale transactions, purchases to cover short positions, which may include purchases pursuant to the over -allotmentoption, stabilizing transactions, syndicate covering transactions or the imposition of penalty bids in connection with this offering. These activities may have the effect of stabilizing or maintaining the market price of our units at a level above that which might otherwise prevail in the open market. •Short sales involve secondary market sales by the underwriters of a greater number of units than it is required to purchase in the offering. •“Covered” short sales are sales of units in an amount up to the number of units represented by the underwriters’ over -allotmentoption. •“Naked” short sales are sales of units in an amount in excess of the number of units represented by the underwriters’ over -allotmentoption. •Covering transactions involve purchases of units either pursuant to the over -allotmentoption or in the open market after the distribution has been completed in order to cover short positions. •To close a naked short position, the underwriters must purchase units in the open market after the distribution has been completed. A naked short position is more likely to be created if the underwriters are concerned that there may be downward pressure on the price of