Company: BSAAR
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001013762-25-004269
Chunk: 272

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-03-28
Form: S-1
Chunk 272
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 standards and applicable SEC rules. Our board has determined that each of Ms. Prescille Chu Cernosia, Mr. Heyi Chen and Mr. Huachen Zhang are independent directors under applicable SEC and NASDAQ rules. Our independent directors will have regularly scheduled meetings at which only independent directors are present. Officer and Director Compensation Prior to the date of this prospectus, none of our officers or directors have received any cash compensation for services rendered to us. However, we are not prohibited from paying any fees (including advisory fees), reimbursements or cash payments to our sponsor, officers or directors, or our or their affiliates, for services rendered to us prior to or in connection with the completion of our initial business combination, including the following payments, all of which, if made prior to the completion of our initial business combination, will be paid from funds held outside the trust account: •repayment of an aggregate of up to $350,000 in loans made to us by our sponsor to cover offering -relatedand organizational expenses; •reimbursement for any out -of -pocketexpenses related to identifying, investigating and completing an initial business combination; •payment of consulting, success or finder fees to our independent directors, advisors, or their respective affiliates in connection with the consummation of our initial business combination; and •repayment of loans which may be made by our sponsor or an affiliate of our sponsor or certain of our officers and directors to finance transaction costs in connection with an intended initial business combination, the terms of which have not been determined nor have any written agreements been executed with respect thereto. Up to $1,150,000 of such loans may be convertible into units at a price of $10.00 per unit at the option of the lender. 163 Our sponsor intends to transfer an aggregate of 80,000 of its founder shares, or 20,000 each to our four directors and officers, at the consummation of an initial business combination. Our sponsor, officers and directors, or any of their respective affiliates, will be reimbursed for any out -of -pocketexpenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made to our sponsor, officers, directors or our or their affiliates. After the completion of our initial business combination, directors or members of our management team who remain with us may be paid consulting, management or other fees from the combined company. All