Company: BSAAR
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001213900-25-047458
Chunk: 283

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 283
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 which is suitable for any of the above entities to which he or she has then -currentfiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such business combination opportunity to such entity, and only present it to us if such entity rejects the opportunity, subject to his or her fiduciary duties under British Virgin Islands law. Our amended and restated memorandum and articles of association will provide that, subject to his or her fiduciary duties under British Virgin Islands law, we renounce our interest or expectancy in any corporate opportunity offered to any officer or director unless such opportunity is expressly offered to such person solely in his or her capacity as a director or officer of our company and such opportunity is one we are legally and contractually 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. In particular, Mr. Xiangge Liu is an Independent Non -ExecutiveDirector of A SPAC III Acquisition Corp., a special purpose acquisition company that 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. 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. We are not prohibited from pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors. In the event we seek to complete our initial business combination with such a company, we, or a committee of independent directors, would obtain an opinion from an independent investment banking firm or an independent accounting firm or any other firm that commonly renders valuation opinions or from an independent accounting firm, that such an initial business combination is fair to our company from a financial point of view. We are not required to obtain