Company: BSAAR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075690
Chunk: 46

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 46
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or their affiliates may, but are not obligated to, loan us funds as may be required. If we complete a Business Combination, we would repay
such loaned amounts. In the event that a Business Combination does not close, we may use a portion of the working capital held outside
the Trust Account to repay such loaned amounts but no proceeds from our Trust Account would be used for such repayment. Up to $1,150,000
of such Working Capital Loans may be convertible into units at a price of $10.00 per unit at the option of the lender. Such units would
be identical to the Private Placement Units issued to our Sponsor. The terms of such loans by our officers and directors, if any, have
not been determined and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than
our Sponsor or an affiliate of our Sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver
against any and all rights to seek access to funds in our trust account.

We do not believe we will need to raise additional
funds in order to meet the expenditures required for operating our business. However, if our estimate of the costs of identifying a target
business, undertaking in-depth due diligence and negotiating a Business Combination are less than the actual amount necessary to do so,
we may have insufficient funds available to operate our business prior to our initial Business Combination. Moreover, we may need to obtain
additional financing either to complete our Business Combination or 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”) 201