Company: BSAAR
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001013762-25-004269
Chunk: 286

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-03-28
Form: S-1
Chunk 286
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 our “promoters” as such term is defined under the federal securities laws. See “ Certain Relationships and Related Party Transactions” for additional information regarding our relationships with our promoters. SPONSOR INFORMATION Mr.Yun Chen and Mr.Kam Chi Kin are the shareholders of BEST SPAC I (Holdings) Corp. and share voting and dispositive power over our securities held by the sponsor. Mr.Yun Chen has a beneficial interest in securities representing 881,250 of our founder shares, and will own all the securities representing a beneficial interest in our private placement units and Mr.Kam Chi Kin Chen has a beneficial interest in securities representing 700,000 of our founder shares. Mr.Yun Chen directs the sponsor’s day -to -dayoperations. Prior to this offering, BEST SPAC I (Holdings) Corp., beneficially owned 1,375,000shares of the Company’s Class B ordinary shares, or founder shares, which were purchase for $25,000, of which 206,250shares are subject to forfeiture in the event that the over -allotmentis not exercised. Immediately after this offering, assuming the over -allotmentoption is not exercised, BEST SPAC I (Holdings) Corp. will subscribe to an aggregate of 280,000 private placement units, at a price of $10.00 per unit for an aggregate purchase price of $2,800,000 in a private placement that will close simultaneously with the closing of this offering. Except as described above, no persons has any direct or indirect material interest in BEST SPAC I (Holdings) Corp. Transfer Restrictions on Founder Shares and Private Placement Units The founder shares, and private placement units, and securities contained therein, are each subject to transfer restrictions pursuant to lock -upprovisions in a letter agreement with us to be entered into by our sponsor, officers and directors. Those lock -upprovisions provide that such securities are not transferable or salable (i) in the case of the founder shares, until the earlier of (A) six months after the completion of our initial business combination or (B) subsequent to our initial business combination, (x) if the last sale price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30 -tradingday period commencing after our initial business combination, or (y