Company: BSAAR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075690
Chunk: 28

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 28
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statements. For information identifying important factors that could cause actual results to differ materially from those anticipated
in the forward-looking statements, please refer to the Risk Factors section of the Company’s final prospectus for its initial public
offering and in our other filings filed with the U.S. Securities and Exchange Commission (the “SEC”). The Company’s
securities filings can be accessed on the EDGAR section of the SEC’s website at www.sec.gov. Except as expressly required by applicable
securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result
of new information, future events or otherwise.

Overview

We are a blank check company incorporated in the British Virgin Islands
on December 13, 2024 formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization,
reorganization or similar business combination with one or more businesses. We intend to effectuate our initial business combination using
cash from the proceeds of the initial public offering (the “IPO”) and the private placement of the private placement units,
the proceeds of the sale of our securities in connection with our initial business combination, our shares, debt or a combination of cash,
stock and debt. 

We expect to continue to incur significant costs
in the pursuit of our acquisition plans. We cannot assure you that our plans to complete a Business Combination will be successful.

Recent Developments

On June 16, 2025, the Company consummated its IPO and sold 5,500,000
Units. Each Unit consists of one Class A ordinary share and one right to receive one-tenth (1/10) of one Class A ordinary share upon the
consummation of an initial Business Combination. The Units were sold at a price of $10.00 per unit, generating gross proceeds to the Company
of $55,000,000.

20

Simultaneously with the closing of the IPO and
the sale of the Units, the Company consummated the Private Placement of an aggregate 277,000 Private Placement Units.

In connection with the IPO, the Company issued
to Maxim Group LLC and/or its designees (“Maxim”), the representative of the underwriters, an aggregate of 247,500 Class A
ordinary shares for no consideration (the “Representative Shares”).

Upon closing of the
IPO and the Private Placement, a total of $55,000,000 was placed in the Trust Account established