Company: BSAAR
Filing Date: 2025-01-10
Form Type: DRS
Source: 0001213900-25-002596
Chunk: 370

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-01-10
Form: DRS
Chunk 370
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 believe the adoption of ASU 2023 -07will have a material impact on the audited financial statements and disclosures. In December 2023, the FASB issued ASU 2023 -09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023 -09), which requires disclosure of incremental income tax information within the rate reconciliation and expanded disclosures of income taxes paid, among other disclosure requirements. ASU 2023 -09is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company’s management does not believe the adoption of ASU 2023 -09will have a material impact on the audited financial statements and disclosures. The Company’s management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. Note 3 — Proposed Public Offering In the Proposed Public Offering, the Company will offer for sale up to 5,500,000 Units, (or 6,325,000 Units if the underwriters’ over -allotmentoption is exercised in full) at a purchase price of $10.00 per Unit. Each Unit that the Company is offering has a price of $10.00 and consists of one Class A ordinary share with no par value and one right. Each right entitles the holder to receive one -tenth(1/10) of one Class A ordinary share upon the consummation of the Company’s initial Business Combination. The Company will not issue fractional shares upon conversion of the rights, as disclosed in Note 7. Note 4 — Private Placement The Company’s Sponsor has committed 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). Each Private Placement Unit will be identical to the units sold in the Proposed Public Offering, except as described below. The Private Placement Units will be sold in a private placement that will close simultaneously with the closing of the Proposed Public Offering, including the over -allotmentoption, as applicable. There will be no redemption rights or liquidating distributions from the Trust Account with respect to the Founder Shares, private placement shares or private placement rights. The rights will