Company: BSAAR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075690
Chunk: 92

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 92
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 because we become obligated to redeem a significant number of our
public shares upon completion of our Business Combination, in which case we may issue additional securities or incur debt in connection
with such Business Combination. Subject to compliance with applicable securities laws, we would only complete such financing simultaneously
with the completion of our Business Combination. If we are unable to complete our Business Combination because we do not have sufficient
funds available to us, we will be forced to cease operations and liquidate the Trust Account. In addition, following our Business Combination,
if cash on hand is insufficient, we may need to obtain additional financing in order to meet our obligations.

22

The Company has incurred and expects to continue to incur significant
costs to remain as a publicly traded company and to incur significant transaction costs in pursuit of the consummation of a Business Combination.
In connection with the Company’s assessment of going concern considerations in accordance with Financial Accounting Standard Board’s
Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue
as a Going Concern,” management has determined that these conditions raise substantial doubt about the Company’s ability to
continue as a going concern. The management’s plan in addressing this uncertainty is through the Working Capital Loans, as defined
below (see Note 5). In addition, if the Company is unable to complete a business combination by June 16, 2026 (assuming no extension),
the Company’s board of directors would proceed to commence a voluntary liquidation and thereby a formal dissolution of the Company.
There is no assurance that the Company’s plans to consummate a Business Combination will be successful. The date for liquidation
and subsequent dissolution as well as liquidity concerns raise substantial doubt about the Company’s ability to continue as a going
concern. The unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Off-Balance Sheet Arrangements

We have no obligations, assets or liabilities,
which would be considered off-balance sheet arrangements as of June 30, 2025. We do not participate in transactions that create relationships
with unconsolidated entities or financial partnerships, often referred to as variable interest entities, which would have been established
for the purpose of facilitating off-balance sheet arrangements. We have not entered into any off-balance sheet financing arrangements,
established any special purpose entities, guaranteed any debt or commitments of other entities, or purchased any non-financial assets.

Contractual