Company: BSAAR
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001213900-25-047458
Chunk: 258

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 258
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 which we are deemed to be a large accelerated filer, which means the market value of our ordinary shares that is held by non -affiliatesexceeds $700 million as of the prior December 31, and (2) the date on which we have issued more than $1.0 billion in non -convertibledebt securities during the prior three -yearperiod. Additionally, we are a “smaller reporting company” as defined in Item 10(f)(1) of Regulation S -K. Smaller reporting companies may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited financial statements. We will remain a smaller reporting company until the last day of the fiscal year in which (1) the market value of our ordinary shares held by non -affiliatesis equal to or exceeds $250 million as of any December 31 before that time, or (2) our annual revenues equaled or exceeded $100 million during such completed fiscal year and the market value of our ordinary shares held by non -affiliatesis equal to or exceeds $700 million as of any December 31. In addition, after completion of this offering and prior to the consummation of a business combination, only holders of our Class B ordinary shares will have the right to vote on the appointment or removal of directors. As a result, Nasdaq will consider us to be a “controlled company” within the meaning of Nasdaq corporate governance standards. Under Nasdaq corporate governance standards, a company of which more than 50% of the voting power for the appointment of directors is held by an individual, group or another company is a “controlled company” and may elect not to comply with certain corporate governance requirements. We currently do not intend to rely on the “controlled company” exemption, but may do so in the future. Accordingly, if we choose to do so, you will not have the same protections afforded to shareholders of companies that are subject to all of the Nasdaq corporate governance requirements. 151 Financial Position With funds available for a business combination initially in the amount of $55,000,000 assuming no redemptions (or, assuming the over -allotmentoption is exercised in full, $63,250,000 assuming no redemptions ), in each case before fees and expenses associated with our initial business combination, we offer a target business a variety of options such as creating a liquidity event for its owners, providing capital for the potential growth and expansion of its operations