Company: BSAAR
Filing Date: 2025-01-10
Form Type: DRS
Source: 0001213900-25-002596
Chunk: 114

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-01-10
Form: DRS
Chunk 114
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 directors prior to the consummation of our initial business combination. In accordance with NASDAQ corporate governance requirements, we are not required to hold an annual meeting until no later than one year after our first fiscal year end following our listing on NASDAQ. There is no requirement under the Companies Act for us to hold annual or general meetings or elect directors. Until we hold an annual meeting of shareholders, public shareholders may not be afforded the opportunity to discuss company affairs with management. In addition, as holders of our Class A ordinary shares, our public shareholders will not have the right to vote on the election of directors prior to consummation of our initial business combination. Reimbursement of out-of -pocket expenses incurred by our insiders, officers, directors or any of their affiliates in connection with certain activities on our behalf, such as identifying and investigating potential business targets, performing business due diligence on suitable target businesses and business combinations, could reduce the funds available to us to consummate a business combination. We may reimburse our insiders, officers, directors or any of their affiliates for out -of -pocketexpenses incurred in connection with certain activities on our behalf, such as identifying and investigating possible business targets and business combinations. Prior to or in connection with the completion of our initial business combination, there may be payment by us to our sponsor, officers, directors or advisors, or our or their affiliates, of a finder’s fee, advisory fee, consulting fee or success fee for any services they render in order to effectuate the completion of our initial business combination, which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account. There is no limit on the amount of out -of -pocketexpenses reimbursable by us, or finder’s fee, advisory fee, consulting fee, or success fee payable by us, provided that, to the extent such expenses exceed the available proceeds not deposited in the trust account, such expenses would not be reimbursed or paid by us unless we consummate an initial business combination. In addition, pursuant to our amended and restated memorandum and articles and British Virgin Islands law, we may be required to indemnify our officers and directors in the event that any of them are sued in their capacity as an officer or director. We will also enter into agreements with our officers and directors to provide contractual indemnification in addition to the indemnification provided for in our amended and restated memorandum and articles and under British Virgin Islands law. In the event that we reimburse our insiders, officers