Company: BSAAR
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001213900-25-047458
Chunk: 48

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 48
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 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 $2,795,000, comprised of the $25,000 purchase price for the founder shares and the $2,770,000 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 Stock Transfer & Trust Company on the date of this prospectus; in order to extend the time available for us to consummate our initial business combination, the sponsor or its affiliates or designees, upon two days advance notice prior to the applicable deadline, may deposit into the Trust Account $550,000, or up to $632,500 if the underwriters’ over -allotmentoption is exercised in full ($0.10 per share in either case) on or prior to the date of the applicable deadline, for each three month extension (or up to an aggregate of $1,100,000 (or $1,265,000 if the underwriters’ over -allotmentoption is exercised in full), or $0.20 per share if the Company extends for the full six months). Any such payments would be made in the form of a loan. Any such loans will be non -interestbearing and payable upon the consummation of our initial business combination. If we complete our initial business combination, we would repay such loaned amounts out of the proceeds of the trust account released to us. If we are required to seek additional capital, we would need to borrow funds from our sponsor, management team or other third parties to operate or may be forced to liquidate. Neither our sponsor, members of our management team nor any of their affiliates is under any obligation to advance funds to us in such circumstances. Any such advances would be repaid only from funds