Company: BSAAR
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001013762-25-004269
Chunk: 225

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-03-28
Form: S-1
Chunk 225
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 Liu, our Chief Executive Officer, Chief Financial Officer and Chairman, currently also serves as an Independent Non -ExecutiveOfficer of ASPC, a special purpose acquisition company incorporated for the purposes of effecting a business combination. ASPC completed its initial public offering on November 12, 2024, generating gross proceeds of $60,000,000 (inclusive of the partial exercise of the underwriter’s over -allotmentoption). As of the date of this prospectus, ASPC is in search of business combination targets. Because ASPC has not identified a target business, Mr. Liu has a pre -existingfiduciary obligation to present potential target businesses to ASPC, and will therefore present any potential target businesses to it prior to presenting them to us. While both ASPC and our company have not identified a target business, ASPC is searching for prospective opportunities in the Environmental, Governance and Sustainability (ESG) and material technology sectors. In contrast, we are initially considering companies in the consumer goods sector. Mr.Liu is also serving as the CEO, CFO and Chairman of BEST SPAC II Acquisition Corp., a special purpose acquisition company incorporated for the purposes of effecting a business combination. Mr.Heyi Chen, Mr.Huachen Zhang and Ms. Prescille Chu Cernosia are also director nominees for BEST SPAC II. As of the date of this prospectus, BEST SPAC II is in the process of completing its initial public offering. BEST SPAC II intends to pursue prospective targets in the consumer goods sector, which presents an overlap with our prospective target industry, presenting a conflict of interest. Other than as described in this prospectus, none of our other officers or directors has any previous or current experience with a special purpose acquisition company. Although there is no restriction or limitation on what industry or geographic region our target operates in, it is our intention to pursue prospective targets that are in the consumer goods sector, which we believe has an optimistic growth trajectory for the coming years. We also intend to focus on prospective target businesses that have potential for revenue growth and/or operating margin expansion with recurring revenue and cash flow, and strong market positions within their industries. We have yet to determine a time frame, an investment amount or any other criteria, which would trigger our search for business opportunities. We believe that we will add value to these businesses primarily by providing them with access to the U.S. capital markets. Our sponsor, officers and directors have may become an officers or directors of other special purpose acquisition companies. Not