Company: BSAAR
Filing Date: 2025-01-10
Form Type: DRS
Source: 0001213900-25-002596
Chunk: 379

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-01-10
Form: DRS
Chunk 379
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   | 237,000 |
| Total offering expenses         |     | $ | 850,000 |

Item 14. Indemnification of Directors and Officers. British Virgin Islands law does not limit the extent to which a company’s memorandum and articles of association may provide for indemnification of officers and directors, except to the extent any such provision may be held by the British Virgin Islands courts to be contrary to public policy, such as to provide indemnification against willful default, civil fraud or the consequences of committing a crime. Our amended and restated memorandum and articles of association will provide for indemnification of our officers and directors to the maximum extent permitted by law, including for any liability incurred in their capacities as such, if that officer or director acted honestly and in good faith with a view to our best interests, and in the case of criminal proceedings, that officer or director had no reasonable cause to believe that his conduct was unlawful. We may purchase a policy of directors’ and officers’ liability insurance that insures our officers and directors against the cost of defense, settlement or payment of a judgment in some circumstances and insures us against our obligations to indemnify our officers and directors. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. Item 15. Recent Sales of Unregistered Securities. On December 13, 2024, we issued to our sponsor 1,581,250 founder shares for an aggregate purchase price of $25,000, or approximately $0.016 per share. Such securities were issued in connection with our organization pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act. Our sponsor is an accredited investor for purposes of Rule 501 of Regulation D. In addition, our sponsor has agreed to purchase an aggregate of 280,000 units (or 288,250 units if the over -allotmentoption is exercised in full) at a price of $10.00 per unit for an aggregate purchase price of $2,800,000, or $2,882,500 if the over -allotmentoption is exercised in full. Each Private Placement Unit will be identical to the units sold in this offering, except as described in this prospectus. The Private Placement Units will be sold in a private