Company: BSAAR
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001213900-25-047458
Chunk: 45

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 45
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ually permitted to complete on a reasonable basis. As a result, the fiduciary duties, conflicts of interest or contractual obligations of our officers or directors could materially affect our ability to complete our initial business combination. For example, Mr. Xiangge Liu, our Chief Executive Officer, Chief Financial Officer and Chairman, currently also serves as an Independent Non -ExecutiveDirector of ASPC, a SPAC incorporated for the purposes of effecting a business combination. ASPC completed its initial public offering on November 12, 2024, generating gross proceeds of $60,000,000 (inclusive of the partial exercise of the underwriter’s over -allotmentoption). As of the date of this prospectus, ASPC 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. Although both ASPC and our company have not identified a target business, ASPC is searching for prospective targets that are in the Environmental, Governance and Sustainability (ESG) and material technology sectors, whereas we are initially considering companies in the consumer goods industry. Mr.Liu is also serving as the CEO, CFO and Chairman of BEST SPAC II Acquisition Corp., 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. Other than as described in this prospectus, none of our other officers or directors has any previous or current experience with a special purpose acquisition company. Our directors and officers are also not required to commit any specified amount of time to our affairs, and, accordingly, will have conflicts of interest in allocating management time among various business activities, including identifying potential business combinations and monitoring the related due diligence. In addition, our sponsor, along with its affiliates, promoters, officers, and directors, currently participate, and may in the future participate, in the formation or sponsorship of other SPAC similar to ours, or engage in other business or investment ventures during our pursuit of an initial business combination