Company: BSAAR
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001013762-25-004269
Chunk: 22

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-03-28
Form: S-1
Chunk 22
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 or more businesses with a total enterprise value of between $100,000,000 and $600,000,000. At the time of preparing this prospectus, we do not have any specific business combination under consideration or contemplation, and we have not, nor has anyone on our behalf, contacted any prospective target business or had any discussions, formal or otherwise, with respect to such a transaction. Our efforts to date are limited to organizational activities related to this offering. Our Sponsor Our sponsor, BEST SPAC I (Holdings) Corp., is a limited liability company incorporated in British Virgin Islands and was incorporated for the sole purpose of holding securities of the Company. Prior to this offering, the sponsor, its affiliates and promoters directly or indirectly, held 1,581,250 Class B ordinary shares, or founder shares (up to 206,250 of which are subject to forfeiture depending on the extent to which the underwriters’ over -allotmentoption is exercised) which were purchased for $25,000. The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of our initial business combination, or earlier at the option of the holder, on a one -for -onebasis, subject to adjustment as specified in the “ Founder shares conversion and anti -dilution” and may result in material dilution to the equity interests of the Class A ordinary shareholders. Prior to the closing of this offering, our sponsor has agreed to loan us up to $350,000 to be used for a portion of the expenses of this offering. These loans are non -interestbearing, unsecured and are due at the earlier of the closing of this offering or the date which the company determines not to conduct this offering. These loans will be repaid upon the closing of this offering out of the $1,400,000 of offering proceeds not held in the trust account. 2 Immediate after this offering, assuming the over -allotmentoption is not exercised, 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. In addition, if our sponsor makes any working capital loans, up to $1,150,000 of such loans may be converted into units, at the price of $10.00 per unit at the option of the lender. Such units would be identical to the private placement units. The conversion of the working capital loans