Company: BSAAR
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001013762-25-004269
Chunk: 294

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-03-28
Form: S-1
Chunk 294
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 connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of British Virgin Islands law. As a result, you must hold rights in multiples of 10 in order to receive shares for all of your rights upon closing of a business combination. The ordinary shares and rights comprising the units will begin separate trading on the 52 ndday following the closing of this offering unless Maxim informs us of its decision to allow earlier separate trading, subject to our having filed the Current Report on Form 8 -Kdescribed below. Once the Class A ordinary shares and rights commence separate trading, holders will have the option to continue to hold units or separate their units into the component securities. Holders will need to have their brokers contact our transfer agent in order to separate the units into Class A ordinary shares and rights. In no event will the Class A ordinary shares and rights be traded separately until we have filed with the SEC a Current Report on Form 8 -Kwhich includes an audited balance sheet reflecting our receipt of the gross proceeds at the closing of this offering. We will file the Current Report on Form 8 -Kpromptly after the closing of this offering which will include this audited balance sheet. If the underwriters’ over -allotmentoption is exercised following the initial filing of such Current Report on Form 8 -K, a second or amended Current Report on Form 8 -Kwill be filed to provide updated financial information to reflect the exercise of the underwriters’ over -allotmentoption. Ordinary Shares Upon the closing of this offering 7,402,500 ordinary shares will be issued and outstanding (assuming no exercise of the underwriters’ over -allotmentoption and the corresponding forfeiture of 206,250 founder shares by our sponsor), including: •5,500,000 Class A ordinary shares underlying the units being offered in this offering; •280,000 Class A ordinary shares underlying the private placement units; •1,375,000 Class B ordinary shares held by our sponsor; and •247,500 Class A ordinary shares held by Maxim. If we increase or decrease the size of the offering, we will effect a capitalization or share surrender or redemption or other appropriate mechanism, as applicable, with respect to our Class B ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the ownership of founder shares by our sponsor prior to this offering at 20% of our issued and outstanding ordinary shares