Company: BSAAR
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001213900-25-047458
Chunk: 33

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 33
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, that such an initial business combination is fair to our company from a financial point of view. We are not required to obtain such an opinion in any other context. 10 If no opinion is obtained, our shareholders will be relying on the judgment of our Board of Directors which will have significant discretion in choosing the standard used to establish the fair market value of the target or targets, and different methods of valuation may vary greatly in outcome from one another. Such standards used will be disclosed in our tender offer documents or proxy solicitation materials, as applicable, related to our initial business combination. As more fully discussed in “ Management — Conflicts of Interest,” if any of our officers or directors becomes aware of a business combination opportunity that falls within the line of business of any entity to which he or she has pre -existingfiduciary or contractual obligations, he or she may be required to present such business combination opportunity to such entity prior to presenting such business combination opportunity to us, subject to his or her fiduciary duties under British Virgin Islands law. All of our officers currently have certain relevant fiduciary duties or contractual obligations that may take priority over their duties to us. In particular, Mr. Xiangge Liu is an Independent Non -ExecutiveDirector of A SPAC III Acquisition Corp. (Nasdaq: ASPC), a special purpose acquisition company that is in search of business combination targets. Because ASPC has not identified a target business, Mr. Liu has a pre -existingfiduciary obligation to present potential target businesses to ASPC, and will therefore present any potential target businesses to it prior to presenting them to us. Mr.Liu is also serving as the CEO, CFO and Chairman of BEST SPAC II Acquisition Corp. (“BEST SPAC II”), a special purpose acquisition company incorporated for the purposes of effecting a business combination. Mr.Heyi Chen, Mr.Huachen Zhang and Ms. Prescille Chu Cernosia are also director nominees for BEST SPAC II. As of the date of this prospectus, BEST SPAC II is in the process of completing its initial public offering. BEST SPAC II intends to pursue prospective targets in the consumer goods sector, which presents an overlap with our prospective target industry, presenting a conflict of interest. Our amended and restated memorandum and articles of association will provide that, subject to his or her fiduciary duties under British Virgin Islands law, we renounce our interest or expectancy in any corporate opportunity offered to any officer or director unless such opportunity is expressly offered to