Company: BSAAR
Filing Date: 2025-03-28
Form Type: S-1
Source: 0001013762-25-004269
Chunk: 373

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-03-28
Form: S-1
Chunk 373
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 Proposed Public Offering. These shares are being registered in the registration statement of which the Proposed Public Offering forms a part. The underwriter has agreed not to transfer, assign or sell any such shares until the completion of the initial Business Combination. In addition, the underwriter has agreed (and its permitted transferees will agree) (i) to waive its redemption rights with respect to such shares in connection with the completion of the Company’s initial Business Combination and (ii) to waive its rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete its initial Business Combination within the Combination Period. F-14 BEST SPAC I ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS Note 6 — Commitments and Contingencies (cont.) The shares have been deemed compensation by FINRA and are therefore subject to a lock -upfor a period of 180 days immediately following the date of the commencement of sales in the Proposed Public Offering pursuant to FINRA Rule 5110(e)(1). Pursuant to FINRA Rule 5110(e)(1), these securities will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days immediately following the effective date of the registration statement of which the Proposed Public Offering forms a part, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the effective date of the registration statement of which the Proposed Public Offering forms a part except to any underwriter and selected dealer participating in the Proposed Public Offering and their officers, partners, registered persons or affiliates. Note 7 — Shareholder’s Equity Preferred Shares— The Company is authorized to issue a total of 1,000,000 preferred shares with no par value. As of December 31, 2024, there were no shares of preferred shares issued or outstanding. Class A Ordinary Shares— The Company is authorized to issue a total of 100,000,000 Class A ordinary shares with no par value. As of December 31, 2024, there were no shares of Class A ordinary shares issued or outstanding. Class B Ordinary Shares— The Company is authorized to issue a total of 10,000,000 Class B ordinary shares with no par value. On December 13, 2024, the Company issued 1,581,250 Class B ordinary shares to the Sponsor for $