BEST SPAC I Acquisition Corp. Announces Closing of $55 Million IPO

HONG KONG, June 17, 2025 – BEST SPAC I Acquisition Corp. (Nasdaq: BSAAU), a British Virgin Islands based special purpose acquisition company (SPAC), has successfully closed its initial public offering, raising $55 million. The announcement marks a significant step for the blank check company, which is now poised to seek out a merger or acquisition target.

The offering, priced at $10.00 per unit, saw each unit consist of one Class A ordinary share and one right. Each right entitles the holder to receive one-tenth (1/10) of one Class A ordinary share upon the completion of an initial business combination. Units began trading on the Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “BSAAU” on June 13, 2025. Following the initial trading of units, the Class A ordinary shares and rights are expected to trade under the symbols “BSAA” and “BSAAR” respectively.

Maxim Group LLC served as the sole book-running manager for the offering, highlighting the firm’s role in facilitating the SPAC’s market entry. The deal also includes an over-allotment option, with the underwriter potentially able to purchase an additional 825,000 units at the offering price, less the underwriting discount. This provision grants flexibility to the underwriter and indicates potential investor demand.

The offering gained regulatory clearance with the U.S. Securities and Exchange Commission (SEC) declaring the registration statement effective on June 12, 2025.

Looking Ahead

BEST SPAC I Acquisition Corp., functioning as a SPAC, aims to identify and merge with a suitable target business. The company’s stated focus is the consumer goods sector, suggesting a strategic direction for potential acquisitions. The successful IPO positions the company to pursue its objectives in a market that has seen both growth and volatility in SPAC activity.

The blank check company’s next move will be closely watched. Analysts will be keen to see how quickly BEST SPAC I Acquisition Corp. can identify and announce a merger target, and whether the company can deliver returns to its investors.

Forward-Looking Considerations

This press release contains “forward-looking statements”. Investors should be aware that the eventual use of proceeds is subject to change and that the company’s ability to effect such a combination is subject to market conditions and other uncertainties. The SEC website, www.sec.gov, contains further details regarding risk factors.

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