BSAA · BEST SPAC I Acquisition Corp. · Insider Trading
Substantial doubt about the company's ability to continue as a going concern.
“The date for liquidation and subsequent dissolution as well as liquidity concerns raise substantial doubt about the Company's ability to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.”View the 10-Q filed Aug 6, 2026
Trades by corporate insiders — officers, directors and holders of more than 10% of the shares — disclosed to the SEC on Forms 4 and 5. Form 3 supplies initial ownership rather than a trade; Form 4 must be filed within two business days of the trade.
| Date | Insider | Role | Type | Security | Shares |
|---|---|---|---|---|---|
| 2026-09-29 | Chen Yun |
10% Owner |
Other↓
Filing footnotes — Rights to receive Class A ordinary shares (Indirect)
Each holder of a right will receive one-tenth (1/10) of one Class A ordinary share upon consummation of the Issuer's initial business combination. The rights will expire worthless if the Issuer does not consummate an initial business combination within the required time period. On September 29, 2026, Naoda Investments Limited, of which Mr. Yun Chen serves as the sole director, sold 100% of its interests in BEST SPAC I (Holdings) Corp., the sponsor of BEST SPAC I Acquisition Corp. (the "Issuer"), to A SPAC (Holdings) Group Corp. for $1. Mr. Chen was previously deemed a beneficial owner of the Issuer's securities by virtue of having shared voting and dispositive power with Kam Chi Kin over the securities held by the sponsor. Mr. Chen did not previously file a Form 3 with respect to such indirect beneficial ownership. As of the date of this report, Mr. Chen no longer has any voting or dispositive power over the Issuer's securities held by BEST SPAC I (Holdings) Corp. |
Rights to receive Class A ordinary shares
(I)
|
277,000 |
| 2026-09-29 | Chen Yun |
10% Owner |
Other↓
Filing footnotes — Class B ordinary shares (Indirect)
The Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment. The Class B ordinary shares have no expiration date. On September 29, 2026, Naoda Investments Limited, of which Mr. Yun Chen serves as the sole director, sold 100% of its interests in BEST SPAC I (Holdings) Corp., the sponsor of BEST SPAC I Acquisition Corp. (the "Issuer"), to A SPAC (Holdings) Group Corp. for $1. Mr. Chen was previously deemed a beneficial owner of the Issuer's securities by virtue of having shared voting and dispositive power with Kam Chi Kin over the securities held by the sponsor. Mr. Chen did not previously file a Form 3 with respect to such indirect beneficial ownership. As of the date of this report, Mr. Chen no longer has any voting or dispositive power over the Issuer's securities held by BEST SPAC I (Holdings) Corp. |
Class B ordinary shares
(I)
|
1,375,000 |
| 2026-09-29 | Chen Yun |
10% Owner |
Other↓
Filing footnotes — Class A ordinary shares (Indirect)
On September 29, 2026, Naoda Investments Limited, of which Mr. Yun Chen serves as the sole director, sold 100% of its interests in BEST SPAC I (Holdings) Corp., the sponsor of BEST SPAC I Acquisition Corp. (the "Issuer"), to A SPAC (Holdings) Group Corp. for $1. Mr. Chen was previously deemed a beneficial owner of the Issuer's securities by virtue of having shared voting and dispositive power with Kam Chi Kin over the securities held by the sponsor. Mr. Chen did not previously file a Form 3 with respect to such indirect beneficial ownership. As of the date of this report, Mr. Chen no longer has any voting or dispositive power over the Issuer's securities held by BEST SPAC I (Holdings) Corp. |
Class A ordinary shares
(I)
|
277,000 |
| 2025-07-30 | BEST SPAC I (Holdings) Corp. |
10% Owner |
Other↓
Filing footnotes — Class B ordinary shares (Direct)
On July 30, 2025, BEST SPAC I (Holdings) Corp. forfeited for no consideration an aggregate of 206,250 shares of Class B ordinary shares, which were subsequently cancelled by BEST SPAC I Acquisition Corp. The Issuer's Class B ordinary shares are convertible into the Issuer's Class A ordinary shares on a one-for-one basis at the Reporting Person's election and has no expiration date. Mr. Yun Chen and Mr. Kam Chi Kin share voting and dispositive power over the securities held by the Reporting Person. |
Class B ordinary shares
|
206,250 |
| 2025-06-16 | BEST SPAC I (Holdings) Corp. |
10% Owner |
Buy↑
Filing footnotes — Rights to receive Class A ordinary shares (Direct)
The rights convert automatically into Class A ordinary shares at the completion of the Issuer's initial business combination. Reflects the 277,000 units owned by BEST SPAC I (Holdings) Corp., the Issuer's sponsor. Each unit consists of one Class A ordinary shares and one right to receive one-tenth (1/10) of one Class A ordinary share upon consummation of the Issuer's initial business combination. The units were purchased at $10.00 per unit for an aggregate purchase price of $2,770,000. Mr. Yun Chen and Mr. Kam Chi Kin share voting and dispositive power over our securities held by the sponsor. |
Rights to receive Class A ordinary shares
|
277,000 |
| 2025-06-16 | BEST SPAC I (Holdings) Corp. |
10% Owner |
Buy↑
Filing footnotes — Class A ordinary shares (Direct)
Reflects the 277,000 units owned by BEST SPAC I (Holdings) Corp., the Issuer's sponsor. Each unit consists of one Class A ordinary shares and one right to receive one-tenth (1/10) of one Class A ordinary share upon consummation of the Issuer's initial business combination. The units were purchased at $10.00 per unit for an aggregate purchase price of $2,770,000. Mr. Yun Chen and Mr. Kam Chi Kin share voting and dispositive power over our securities held by the sponsor. |
Class A ordinary shares
|
277,000 |