Company: BSAAR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075690
Chunk: 59

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 59
---
,770,000  
 Proceeds from issuance of promissory note to related party   79,122  
 Payment of underwriter commissions   (550,000) 
 Payment of offering costs   (324,274) 
 Repayment to a related party   (2,500) 
 Net Cash Provided by Financing Activities   56,972,348  

 Net Change in Cash   1,774,995  

 Cash, Beginning of Period   —  
 Cash, End of Period  $1,774,995  

Supplemental Disclosure of Cash Flow Information: 
   
 Initial classification of ordinary shares subject to redemption  $52,305,283  
 Accretion of carrying value to redemption value of Class A redeemable ordinary shares  $193,938  
 Deferred offering costs paid via promissory note – related party  $28,274  

The accompanying notes are an integral part of
the unaudited condensed financial statements.

4

BEST SPAC I ACQUISITION
CORP.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 1 – Organization and Business Operations BEST SPAC I Acquisition Corp. (the “Company”) is blank check company incorporated as a British Virgin Islands business company on December 13, 2024. The Company was incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses (the “Business Combination”). Although there is no restriction or limitation on what industry or geographic region the Company’s target operates in, it is the Company’s intention to pursue prospective targets that are in the consumer goods sector. As of June 30, 2025, the Company had not commenced any operations. All activities for the period from December 13, 2024 (inception) through June 30, 2025 relates to the Company’s formation and its initial public offering (the “IPO”), as described below, and subsequent to the IPO, identifying a target company for a Business Combination. The Company will not generate any operating revenue until after the completion of its initial Business Combination, at the earliest. The Company may generate non-operating income in the form of interest income from the proceeds derived from the IPO. The Company has selected December 31 as its fiscal year end. The Company’s sponsor is BEST SPAC I (Hold