Company: BSAAR
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001013762-25-004269
Chunk: 48

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-03-28
Form: S-1
Chunk 48
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 hold a shareholder vote at any time to amend our amended and restated memorandum and articles of association, to modify the amount of time we will have to consummate an initial business combination (as well as to modify the substance or timing of our obligation to redeem 100% of our public shares if we have not consummated an initial business combination or with respect to any other material provisions relating to shareholders’ rights or pre -initialbusiness combination activity). Our sponsor, officers, and directors have agreed, pursuant to a written agreement with us, that they will not propose any amendment to our amended and restated memorandum and articles of association that would (i) modify the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within 12 months from the closing of this offering (or up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time without shareholder approval) or (ii) with respect to the other provisions relating to shareholders’ rights or pre -businesscombination activity, unless we provide our public shareholders with the opportunity to redeem their Class A ordinary shares upon approval of any such amendment at a per -shareprice, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding public shares. Maxim (and its designees), 17 our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to their founder shares, private placement shares, Representative’s Shares and public shares in connection with the completion of our initial business combination. Upon the closing of this offering, assuming no exercise of the underwriter’s over -allotmentoption, our sponsor will have invested in us an aggregate of $2,825,000, comprised of the $25,000 purchase price for the founder shares and the $2,800,000 purchase price for the private placement units. There will be no redemption rights or liquidating distributions from the trust account with respect to the founder shares, private placement shares, private placement units or private placement rights. Accordingly, if we do not complete our initial business combination within the completion window, the private placement securities and founder shares will expire worthless. Pursuant to the terms of our amended and restated memorandum and articles of association and the trust agreement to be entered into between us and Continental