Company: BSAAR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075690
Chunk: 36

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 36
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 with other freestanding instruments (i.e., public units), the initial carrying value of Class A ordinary shares classified
as temporary equity has been allocated to the proceeds determined in accordance with ASC 470-20. The Company’s Class A ordinary
shares is subject to ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to
either (i) accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable
that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or (ii) recognize changes in the
redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of
each reporting period. The Company has elected to recognize the changes in redemption value in additional paid-in capital (or accumulated
deficit in the absence of additional paid-in capital) over an expected 12-month period, which is the initial period that the Company has
to complete a Business Combination.

24

Net Income (Loss) per Share

The Company complies with accounting and disclosure
requirements of FASB ASC 260, Earnings Per Share. Net loss per share is computed by dividing net loss by the weighted average number of
ordinary shares outstanding during the period, excluding ordinary shares subject to forfeiture by the Sponsor.

Recent Accounting Standards 

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 2023-09 is effective
for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently assessing the impact, if any,
that ASU 2023-09 would have on its financial position, results of operations or cash flows.

In November 2023, the FASB issued ASU No. 2023-07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires the disclosure of additional segment information.
ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after
December 15, 2024. The Company