Company: BSAAR
Filing Date: 2025-01-10
Form Type: DRS
Source: 0001213900-25-002596
Chunk: 376

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-01-10
Form: DRS
Chunk 376
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curities, 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 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 the Proposed Public 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 initial 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 -equivalentsecurities issued to the Sponsor or its affiliates upon conversion of loans made to the Company. Prior to the initial Business Combination, only holders of the Founder Shares will have the right to vote on the election of directors. Holders of the public shares will not be entitled to vote on the election of directors during such time. These provisions of the Company’s amended and restated memorandum and articles of association may only be amended by a resolution passed by holders of at least a majority of the ordinary shares who are eligible to vote and attend and vote in a general meeting of the shareholders. With respect to any other matter submitted to a vote of the shareholders, including any vote in connection with the initial Business Combination, except as required by law, holders of the Founder Shares, Representative’s Shares and holders of the public shares will vote together as a single class, with each share entitling the holder to one vote. Rights— Each holder of a right will receive one -tenth(1/10) of one Class A ordinary share upon consummation of the initial Business Combination, even if the holder of such right redeemed all Class A ordinary shares held by it in connection with the initial Business Combination. No additional consideration will be required to be paid by a F-15 BEST SPAC I ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS Note 7 — Shareholder’s Equity (cont.) holder of rights in order to receive its additional shares upon consumm