Company: BSAAR
Filing Date: 2025-01-10
Form Type: DRS
Source: 0001213900-25-002596
Chunk: 228

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-01-10
Form: DRS
Chunk 228
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 we believe has an optimistic growth trajectory for the coming years. We also intend to focus on prospective target businesses that have potential for revenue growth and/or operating margin expansion with recurring revenue and cash flow, and strong market positions within their industries. We have yet to determine a time frame, an investment amount or any other criteria, which would trigger our search for business opportunities. We believe that we will add value to these businesses primarily by providing them with access to the U.S. capital markets. 130 Our sponsor, officers and directors have may become an officers or directors of other special purpose acquisition companies. Notwithstanding that, such officers and directors will continue to have a pre -existingfiduciary obligation to us and we will, therefore, have priority over any special purpose acquisition companies they subsequently join. 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 interest in 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. 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. Class A ordinary shareholders and Class B ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders and vote together as a single class, except as required by law; provided that, for so long as any Class B ordinary shares are outstanding, holders of our Class B ordinary shares will have the right to elect all of our directors prior to our initial business combination and holders of our Class A ordinary shares will not be entitled to vote on the election of directors during such time. 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 “ Founder shares conversion and anti -dilution” and may result in immediate and substantial dilution from the purchase of our Class A ordinary shares. In addition, in order to facilitate our initial business combination, our sponsor may surrender or forfeit,