Company: BSAAR
Filing Date: 2025-01-10
Form Type: DRS
Source: 0001213900-25-002596
Chunk: 100

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-01-10
Form: DRS
Chunk 100
---
 pre -existingfiduciary obligation to present potential target businesses to ASPC, and will therefore present any potential target businesses to ASPC prior to presenting them to us. Since our sponsor, officers and directors will lose their entire investment in us if our initial business combination is not completed, a conflict of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination. On December 13, 2024, our sponsor purchased 1,581,250 founder shares for an aggregate purchase price of $25,000, or approximately $0.016 per share. Prior to the initial investment in the company of $25,000 by our sponsor, the company had no assets, tangible or intangible. As such, our sponsor will own 20% of our issued and outstanding shares after this offering (assuming it does not purchase units in this offering and excluding the private placement shares and the Representative’s Shares). If we increase or decrease the size of the offering, we will effect a capitalization or share surrender or redemption or other appropriate mechanism, as applicable, immediately prior to the consummation of the offering in such amount as to maintain the ownership of our sponsor prior to this offering at 20% of our issued and outstanding ordinary shares upon the consummation of this offering (excluding the private placement shares and the Representative’s Shares). Our sponsor intends to transfer an aggregate of 80,000 of its founder shares, or 20,000 each to our four directors and officers, at the consummation of an initial business combination. The founder shares will be worthless if we do not complete an initial business combination. In addition, our sponsor has committed to purchase an aggregate of 280,000 (or 288,250 if the underwriters’ over -allotmentoption is exercised in full) private placement 55 units for a purchase price of $10.00 per unit, or $2,800,000, in the aggregate (or $2,882,500 in the aggregate if the underwriters’ over -allotmentoption is exercised in full). Each private placement unit consists of one Class A ordinary share and one right to receive of one -tenth(1/10) of one Class A ordinary share upon the completion of our initial business combination. Such rights will also be worthless if we do not complete a business combination. The founder shares are identical to the Class A ordinary shares included in the units being sold in this offering except that (i) holders of the founder shares have the