Company: BSAAR
Filing Date: 2025-01-10
Form Type: DRS
Source: 0001213900-25-002596
Chunk: 298

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-01-10
Form: DRS
Chunk 298
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 holders will have the option to continue to hold units or separate their units into the component securities. Holders will need to have their brokers contact our transfer agent in order to separate the units into Class A ordinary shares and rights. In no event will the Class A ordinary shares and rights be traded separately until we have filed with the SEC a Current Report on Form 8 -Kwhich includes an audited balance sheet reflecting our receipt of the gross proceeds at the closing of this offering. We will file the Current Report on Form 8 -Kpromptly after the closing of this offering which will include this audited balance sheet. If the underwriters’ over -allotmentoption is exercised following the initial filing of such Current Report on Form 8 -K, a second or amended Current Report on Form 8 -Kwill be filed to provide updated financial information to reflect the exercise of the underwriters’ over -allotmentoption. Ordinary Shares Upon the closing of this offering 7,402,500 ordinary shares will be issued and outstanding (assuming no exercise of the underwriters’ over -allotmentoption and the corresponding forfeiture of 206,250 founder shares by our sponsor), including: •5,500,000 Class A ordinary shares underlying the units being offered in this offering; •280,000 Class A ordinary shares underlying the private placement units; •1,375,000 Class B ordinary shares held by our sponsor; and •247,500 Class A ordinary shares held by Maxim. If we increase or decrease the size of the offering, we will effect a capitalization or share surrender or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the ownership of founder shares by our sponsor prior to this offering at 20% of our issued and outstanding ordinary shares upon the consummation of this offering (excluding the private placement shares). Class A ordinary shareholders and Class B ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders and vote together as a single class, except as required by law; provided that, for so long as any Class B ordinary shares are outstanding, holders of our Class B ordinary shares will have the right to elect all of our directors prior to our initial business combination and holders of our Class A ordinary 173 shares will not be entitled to vote on the election of directors during such time. These provisions of our amended and restated memorandum and articles