Company: BSAAR
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001213900-25-047458
Chunk: 370

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 370
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31, 2025 and December 31, 2024, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to tax examinations by major taxing authorities since inception. There is currently no taxation imposed by the Government of the British Virgin Islands. In accordance with British Virgin Islands income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s unaudited condensed financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. The Company is considered to be a British Virgin Islands business company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States. As such, the Company’s tax provision was zero for the period presented. Recent Accounting Pronouncements In December 2023, the FASB issued ASU 2023 -09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023 -09), which requires disclosure of incremental income tax information within the rate reconciliation and expanded disclosures of income taxes paid, among other disclosure requirements. ASU 2023 -09is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted this guidance on January1, 2025 and there was no significant impact. The Company’s management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying unaudited condensed financial statements. F-12 BEST SPAC I ACQUISITION CORP.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS Note 3 — Proposed Public Offering In the Proposed Public Offering, the Company will offer for sale up to 5,500,000 Units, (or 6,325,000 Units if the underwriters’ over -allotmentoption is exercised in full) at a purchase price of $10.00 per Unit. Each Unit that the Company is offering has a price of $10.00 and consists of one Class A ordinary share with no par value and one right. Each right entitles the holder to receive one -tenth(1/10) of one Class A ordinary share upon the