Company: BSAAR
Filing Date: 2025-09-26
Form Type: 8-K
Source: 0001493152-25-015071
Chunk: 0

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-09-26
Form: 8-K
Item: Item 1.01
Chunk 0
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Item
1.01 Entry into Material Definitive Agreement.

On
September 25, 2025, BEST SPAC I Acquisition Corp., a British Virgin Islands business company (the “ Company” or the “ Parent”),
entered into a merger agreement (as it may be amended, supplemented or otherwise modified from time to time, the “ Merger Agreement”)
with (i) HDEducation Group Limited, a Cayman Islands exempted company (“ HDE”); (ii) High Distinction Group Limited, a Cayman
Islands exempted company and wholly-owned subsidiary of the Parent (the “ Purchaser”); and (iii) BEST SPAC I Mini Sub Acquisition
Corp., a Cayman Islands exempted company and wholly-owned subsidiary of the Parent (the “ Merger Sub”). Capitalized terms
used in this Current Report on Form 8-K but not otherwise defined herein have the meanings given to them in the Merger Agreement.

A
copy of the Merger Agreement is filed with this Current Report on Form 8-K as Exhibit 2.1, and is incorporated herein by reference, and
the description of the Merger Agreement herein is qualified in its entirety by reference thereto.

Reincorporation
Merger

Upon
the closing of the transactions contemplated in the Merger Agreement, the Parent will be merged with and into the Purchaser, the separate
corporate existence of the Parent will cease and Purchaser will continue as the surviving corporation (the “ Reincorporation Merger”).
The Merger Sub shall become a wholly owned subsidiary of the Purchaser as a consequence of the Reincorporation Merger. In connection
with the Reincorporation Merger, each of the Parent’s issued and outstanding shares will be converted into an equivalent share
of Purchaser:

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Acquisition
Merger and Acquisition Consideration

Within
two Business Days following the Reincorporation Merger, the Merger Sub will merge with and into HDE (the “ Acquisition Merger”
and together with the Reincorporation Merger, the “ Business Combination”). Following the Acquisition Merger, the separate
corporate existence of Merger Sub shall cease, and HDE shall continue as the surviving company in the Acquisition Merger (the “ Surviving
Corporation”) under the laws of the Cayman Islands.

Pursuant
to the