Company: BSAAR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001213900-25-075690
Chunk: 24

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 24
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 of the rights upon consummation of an initial Business Combination. The shares issuable upon conversion of the rights will be freely tradable (except to the extent held by affiliates of the Company). The Company will not issue fractional shares upon conversion of the 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, holders must hold rights in multiples of 10 in order to receive shares for all of the investors’ rights upon closing of a Business Combination. If the Company is unable to complete an initial Business Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of rights will not receive any of such funds with respect to their rights, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such rights, and the rights will expire worthless. Further, there are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of an initial Business Combination. Accordingly, the rights may expire worthless. 

Note 8 —Fair Value Measurements The following table presents information about the Company’s assets and liabilities that are measured at fair value on June 30, 2025, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:      June 30,   Quoted Prices in Active Markets   Significant Other Observable Inputs   Significant Other  Unobservable Inputs      2025   (Level 1)   (Level 2)   (Level 3)   Assets                  Investments held in Trust Account  $55,087,764   $55,087,764    —    —         As of June 30, 2025   Significant Other Unobservable Inputs (Level 3)   Liabilities:          Over-allotment option liabilities  $74,829   $74,829    17  The over-allotment option was accounted for as a liability in accordance with ASC 815-40 and was presented within liabilities on the balance sheet. The over-allotment liability is measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of over-allotment liabilities in the statement of operations. The Company used a Black-Scholes model