BSAA on Nasdaq
BEST SPAC I Acquisition Corp.
BEST SPAC I Acquisition Corp. is an educational services company, listed on Nasdaq (BSAA).1
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Last updated Oct 21, 2026.
Overview
- TickerBSAA on Nasdaq1
- IndustryServices-Educational Services1
- Business address701, 7/Floor, United Building, 17-19 Jubilee Street, Hong Kong3
- Filer category, Emerging growth company3
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Units may elect to separately trade the Class A ordinary shares and rights included in its units commencing on or about August 7, 2025.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Financial statements
Every line of the income statement as filed: the last 1 fiscal year, latest first.2
| Period ending | 2025-12-31 |
|---|---|
| General and administrative expenses | $651.4K |
| Loss from Operations | -$651.4K |
| Interest income | $1.2M |
| Gain on expiration of over-allotment option liability | $74.8K |
| Income (Loss) before tax expense | $649.9K |
| Net Income (Loss) | $649.9K |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2024-11-30 |
|---|---|---|---|
| Cash | $1.3M | ||
| Prepaid expenses | $125.9K | $15.0K | |
| Total current assets | $1.4M | $15.0K | |
| Deferred offering costs | $12.5K | ||
| Investments held in trust account | $56.2M | ||
| Total Assets | $57.6M | $27.5K | |
| Accounts payable and accrued expenses | $153.0K | $3.0K | |
| Total current liabilities | $153.0K | $5.5K | |
| Addition paid-in capital | $1.9M | $25.0K | |
| Retained earnings (accumulated deficit) | $646.9K | -$3.0K | |
| Total shareholders equity | $2.5M | $22.0K | $25.0K |
| Total Liabilities, Ordinary Shares Subject to Redemption and Shareholders Equity | $57.6M | $27.5K | |
| Preferred shares, shares authorized | 1.0M shares | 1.0M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2024-11-30 |
|---|---|---|---|
| Cash | $1.3M | ||
| Prepaid expenses | $125.9K | $15.0K | |
| Total current assets | $1.4M | $15.0K | |
| Deferred offering costs | $12.5K | ||
| Investments held in trust account | $56.2M | ||
| Total Assets | $57.6M | $27.5K | |
| Accounts payable and accrued expenses | $153.0K | $3.0K | |
| Total current liabilities | $153.0K | $5.5K | |
| Addition paid-in capital | $1.9M | $25.0K | |
| Retained earnings (accumulated deficit) | $646.9K | -$3.0K | |
| Total shareholders equity | $2.5M | $22.0K | $25.0K |
| Total Liabilities, Ordinary Shares Subject to Redemption and Shareholders Equity | $57.6M | $27.5K | |
| Preferred shares, shares authorized | 1.0M shares | 1.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 1 fiscal year, latest first.2
| Period ending | 2025-12-31 |
|---|---|
| Net income (loss) | $649.9K |
| Interest earned on investments held in Trust Account | -$1.2M |
| Gain on expiration of over-allotment option liability | -$74.8K |
| Prepaid expenses | -$110.9K |
| Accounts payable and accrued expenses | $138.0K |
| Net Cash Used in Operating Activities | -$598.2K |
| Purchase of investment held in Trust Account | -$55.0M |
| Net Cash Used in Investing Activities | -$55.0M |
| Proceeds from sale of public units | $55.0M |
| Proceeds from sale of private placement units | $2.8M |
| Payment of underwriter commissions | -$550.0K |
| Payment of offering costs | -$324.3K |
| Repayment to a related party | -$2.5K |
| Net Cash Provided by Financing Activities | $56.9M |
| Net Change in Cash | $1.3M |
| Initial classification of ordinary shares subject to redemption | $52.3M |
| Subsequent measurement of ordinary shares subject to redemption (interest earned on Trust Account) | $1.2M |
| Accretion of carrying value to redemption value of Class A redeemable ordinary shares | $1.4M |
| Deferred offering costs paid via promissory note related party | $28.3K |
No quarter-by-quarter statement was filed.
Corporate structure
BEST SPAC I Acquisition Corp. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of BEST SPAC I Acquisition Corp.
- Claudius Tsang Filed SCHEDULE 13D on BEST SPAC I Acquisition Corp., latest Sep 29, 2026
- Yun Chen Filed SCHEDULE 13G/A on BEST SPAC I Acquisition Corp., latest Sep 29, 2026
- Mizuho Financial Group Filed SCHEDULE 13G/A on BEST SPAC I Acquisition Corp., latest Aug 13, 2026 (2 filings since Aug 13, 2025)
- W. R. Berkley Filed SCHEDULE 13G/A on BEST SPAC I Acquisition Corp., latest Aug 5, 2026 (3 filings since Nov 10, 2025)
- RIVERNORTH CAPITAL MANAGEMENT, LLC Filed SCHEDULE 13G/A on BEST SPAC I Acquisition Corp., latest Jul 9, 2026 (4 filings since Aug 14, 2025)
- WOLVERINE ASSET MANAGEMENT LLC Filed SCHEDULE 13G/A on BEST SPAC I Acquisition Corp., latest Jun 4, 2026 (3 filings since Jul 11, 2025)
- Feis Equities LLC Filed SCHEDULE 13G/A on BEST SPAC I Acquisition Corp., latest May 22, 2026 (3 filings since Jul 17, 2025)
- BEST SPAC I (Holdings) Corp. Filed SCHEDULE 13G on BEST SPAC I Acquisition Corp., latest Aug 1, 2025
- BEST SPAC I Acquisition Corp.
- High Distinction Group Limited, a Subsidiary · Cayman Islands
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What BEST SPAC I Acquisition Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Properties, in its own words
We currently maintain our principal executive offices at 701, 7/Floor United Building 17-19 Jubilee Street Hong Kong. We consider our current office space adequate for our current operations.
Item 2 of the 10-K filed Feb 9, 2026.5
Leadership
Who has led BEST SPAC I Acquisition Corp., and when. Pick a name to see everywhere that person has worked.
Board members and other officers (2)
- Board memberHeyi Chen Jun 16, 2025 to now10
- Board memberPrescille Chu Cernosia Jun 16, 2025 to now11
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- High Distinction Group Limited, a Cayman Islands4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- BEST SPAC I Acquistion Corp.Jan 10, 2025 to Mar 28, 20253
Timeline
- Sep 29, 20268-K Change in control12
- Aug 25, 20268-K Listing notice or transfer13
- May 19, 20268-K Bylaws or fiscal year changed; Shareholder vote; Other events14
- Sep 26, 20258-K Entered a material agreement15
- Aug 6, 20258-K Other events16
- Jun 23, 20258-K Other events17
- Jun 17, 20258-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed18
Filings
55 filings to the SEC since October 2021: 1 annual reports, 4 quarterly reports, 7 major events, 9 insider forms, 18 large holders, 16 other. The latest 20:
- Sep 29, 20268-K CURRENT REPORT EDGAR
- Sep 29, 20263 EDGAR
- Sep 29, 2026SCHEDULE 13D EDGAR
- Sep 29, 2026SCHEDULE 13G/A EDGAR
- Sep 29, 20264 EDGAR
- Aug 25, 20268-K CURRENT REPORT EDGAR
- Aug 13, 2026SCHEDULE 13G/A EDGAR
- Aug 6, 202610-Q QUARTERLY REPORT EDGAR
- Aug 5, 2026SCHEDULE 13G/A EDGAR
- Jul 9, 2026SCHEDULE 13G/A EDGAR
- Jun 4, 2026SCHEDULE 13G/A EDGAR
- May 22, 2026SCHEDULE 13G/A EDGAR
- May 19, 20268-K CURRENT REPORT EDGAR
- May 7, 2026SCHEDULE 13G/A EDGAR
- Apr 28, 2026DEF 14A PROXY STATEMENT EDGAR
- Apr 28, 202610-Q QUARTERLY REPORT EDGAR
- Apr 2, 2026PRE 14A PROXY STATEMENT EDGAR
- Feb 17, 2026SCHEDULE 13G EDGAR
- Feb 9, 202610-K ANNUAL REPORT EDGAR
- Feb 2, 2026SCHEDULE 13G/A EDGAR
The 55 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
1 open-market trades by officers, directors and large owners since October 2021: 1 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jun 16, 2025 | BEST SPAC I (Holdings) Corp.10% owner | Buy | 277,000 | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Claudius TsangSCHEDULE 13D, 1 filing Sep 29, 202619
- Yun ChenSCHEDULE 13G/A, 1 filing Sep 29, 202620
- Mizuho Financial GroupSCHEDULE 13G/A, 2 filings Aug 13, 2025 to Aug 13, 202621
- W. R. BerkleySCHEDULE 13G/A, 3 filings Nov 10, 2025 to Aug 5, 202622
- RIVERNORTH CAPITAL MANAGEMENT, LLCSCHEDULE 13G/A, 4 filings Aug 14, 2025 to Jul 9, 202623
- WOLVERINE ASSET MANAGEMENT LLCSCHEDULE 13G/A, 3 filings Jul 11, 2025 to Jun 4, 202624
- Feis Equities LLCSCHEDULE 13G/A, 3 filings Jul 17, 2025 to May 22, 202625
- BEST SPAC I (Holdings) Corp.SCHEDULE 13G, 1 filing Aug 1, 202526
SEC filer profile
How BEST SPAC I Acquisition Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARBEST SPAC I Acquisition Corp.1
- CIK0002051587
- Employer ID (EIN)00-00000005
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company5
- Incorporated inBritish Virgin Islands5
- Fiscal year endsDecember 311
- Industry code (SIC)8200 Services-Educational Services1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business address701, 7/Floor, United Building, 17-19 Jubilee Street, Hong Kong, Hong Kong1
- Phone852-9828-33971
- Shares outstanding6,024,500 Common Class A shares; 1,375,000 Common Class B shares as of Feb 9, 20265
- Public float$55.2M as of Jun 30, 20255
- AuditorWWC, P.C., San Mateo, California PCAOB ID 1171; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceJan 10, 20251
- Filings55 in all: SCHEDULE 13G/A (10), 8-K (7), SCHEDULE 13G (7), 3 (6), 10-Q (4), CORRESP (4), 4 (3), UPLOAD (2)1
All 20 form types
10-K (1), 424B4 (1), 425 (1), 8-A12B (1), CERT (1), DEF 14A (1), DRS (1), EFFECT (1), PRE 14A (1), S-1 (1), S-1/A (1), SCHEDULE 13D (1)
- Latest filingsAnnual report (10-K) Feb 9, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Apr 28, 2026
Latest 8-K (8-K) Sep 29, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Units, each consisting of one Class A ordinary share and one right | BSAAU | Nasdaq |
| Class A ordinary shares, no par value | BSAA | Nasdaq |
| Rights | BSAAR | Nasdaq |
From the cover page of the 10-K filed Feb 9, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
Legal proceedings
We may be subject to legal proceedings, investigations and claims incidental to the conduct of our business from time to time. We are not currently a party to any material litigation or other legal proceedings brought against us. We are also not aware of any legal proceeding, investigation or claim, or other legal exposure that has a more than remote possibility of having a material adverse effect on our business, financial condition or results of operations.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10SEC EDGARHeyi Chen, Board member
- 11SEC EDGARPrescille Chu Cernosia, Board member
- 12SEC EDGARChange in control
- 13SEC EDGARListing notice or transfer
- 14
- 15SEC EDGAREntered a material agreement
- 16SEC EDGAROther events
- 17SEC EDGAROther events
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26