Company: BSAAR
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001013762-25-004269
Chunk: 115

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-03-28
Form: S-1
Chunk 115
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 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 65 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, directors or any of their affiliates for out -of -pocketexpenses, or pay them a finder’s fee, advisory fee, consulting fee or success fee for any services rendered prior to the consummation of a business combination, or are required to indemnify any of our officers or directors as required by law, we would use funds available to us outside of the trust account for our working capital requirements. Any reduction in the funds available to us could have a material adverse effect on our ability to locate and investigate prospective target businesses and to structure, negotiate, conduct due diligence in connection with or consummate our initial business combination. Whether a redemption of Class A ordinary shares will be treated as a sale of such Class A ordinary shares for U.S. federal income tax purposes will depend on a shareholder’s specific facts. The U.S. federal income tax treatment of a redemption of Class A ordinary shares will depend on whether the redemption qualifies as a sale of such Class A ordinary shares under Section 302