Company: BSAAR
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001013762-25-004269
Chunk: 285

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-03-28
Form: S-1
Chunk 285
---
, at a price of $10.00 per unit for an aggregate purchase price of $2,800,000 in a private placement that will close simultaneously with the closing of this offering. Immediately after this offering, our sponsor will beneficially own approximately 20% of the then issued and outstanding ordinary shares (assuming it does not purchase units in this offering and excluding the private placement shares and the Representative’s Shares) and will have the right to elect all of our directors prior to our initial business combination as a result of holding all of the founder shares. Holders of our public shares will not have the right to elect any directors to our Board of Directors prior to our initial business combination. In addition, because of their

172 ownership block, our sponsor may be able to effectively influence the outcome of all other matters requiring approval by our shareholders, including amendments to our amended and restated memorandum and articles of association and approval of significant corporate transactions. Our sponsor has agreed to purchase an aggregate of 280,000 units (or 288,250 units if the over -allotmentoption is exercised in full) at a price of $10.00 per unit for an aggregate purchase price of $2,800,000, or $2,882,500 if the over -allotmentoption is exercised in full, in a private placement that will close simultaneously with the closing of this offering. The private placement units are identical to the units sold in this offering except that, (i) we may not redeem the ordinary shares underlying the units, and (ii) they (including the Class A ordinary shares issuable upon conversion of the private placement rights) may not, subject to certain limited exceptions, be transferred, assigned or sold by our sponsor until the completion of our initial business combination, and are entitled to registration rights. See “— Transfer Restrictions on Founder Shares and Private Placement Units” and “— Registration Rights.” The purchase price of the private placement units will be added to the proceeds from this offering to be held in the trust account pending our completion of our initial business combination. If we do not complete our initial business combination within 12 months from the closing of this offering (or up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time without shareholder approval), the proceeds of the sale of the private placement units held in the trust account will be used to fund the redemption of our public shares. Our sponsor and our officers and directors are deemed to be