Company: BSAAR
Filing Date: 2025-01-10
Form Type: DRS
Source: 0001213900-25-002596
Chunk: 346

Company: BEST SPAC I Acquisition Corp.
Filing Date: 2025-01-10
Form: DRS
Chunk 346
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.5% of the gross proceeds received from such investors upon the closing of such offering. Regulatory Restrictions on Purchase of Securities In connection with the offering, the underwriters may purchase and sell units in the open market. The underwriters have advised us that, in accordance with Regulation M under the Securities Exchange Act of 1934, as amended, they may engage in short sale transactions, purchases to cover short positions, which may include purchases pursuant to the over -allotmentoption, stabilizing transactions, syndicate covering transactions or the imposition of penalty bids in connection with this offering. These activities may have the effect of stabilizing or maintaining the market price of our units at a level above that which might otherwise prevail in the open market. •Short sales involve secondary market sales by the underwriters of a greater number of units than it is required to purchase in the offering. •“Covered” short sales are sales of units in an amount up to the number of units represented by the underwriters’ over -allotmentoption. •“Naked” short sales are sales of units in an amount in excess of the number of units represented by the underwriters’ over -allotmentoption. •Covering transactions involve purchases of units either pursuant to the over -allotmentoption or in the open market after the distribution has been completed in order to cover short positions. •To close a naked short position, the underwriters must purchase units in the open market after the distribution has been completed. A naked short position is more likely to be created if the underwriters are concerned that there may be downward pressure on the price of the units in the open market after pricing that could adversely affect investors who purchase in the offering. •To close a covered short position, the underwriters must purchase units in the open market after the distribution has been completed or must exercise the over -allotmentoption. In determining the source of units to close the covered 203 •short position, the underwriters will consider, among other things, the price of units available for purchase in the open market as compared to the price at which they may purchase units through the over -allotmentoption. •Stabilizing transactions involve bids to purchase units so long as the stabilizing bids do not exceed a specified maximum. Purchases to cover short positions and stabilizing purchases, as well as other purchases by the underwriters for their own account, may have the effect of preventing or retarding a decline in the market price of the units. They may also cause