Here are the 10-Q quarterly reports from BEST SPAC I Acquisition Corp. Rights (BSAAR) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BSAAR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BSAAR filings page.
BEST SPAC I Acquisition Corp. reported a $109,803 net loss for the three months ended September 30, 2026, versus $240,364 net income a year earlier. Nine-month net income was $416,470, compared with $193,905 in 2025; 2026 results included $821,090 of interest income. The company had not commenced operations as of September 30, 2026.
The proposed business combination with HDEducation Group Limited provides for $300 million in stock consideration, subject to closing conditions. Certain HDE shareholders may receive up to 2,000,000 additional shares if the volume weighted average price is at least $15.00 over 20 trading days within a 30-trading-day period. At the May 19, 2026 shareholder vote, 5,333,287 public shares were redeemed for approximately $55.2 million; $1,760,238 remained in the Trust Account on September 30, 2026.
Nasdaq notified the company that it did not meet the $35 million minimum Market Value of Listed Securities requirement and also did not meet two other continued-listing requirements. The notice had no immediate effect on trading. The company has until February 15, 2027, to regain compliance; if it does not, Nasdaq will notify it that its securities are subject to delisting.
Best SPAC I Acquisition Corp. reported net income of $166,802 for the quarter and $526,273 for the six months ended June 30, 2026, driven largely by $282,263 and $776,429 of interest earned on investments in its Trust Account. General and administrative expenses were $124,997 for the quarter and $270,131 year-to-date.
A May 19, 2026 shareholder meeting extended the deadline to complete a business combination to June 16, 2027, but also led to the redemption of 5,333,287 Class A ordinary shares for approximately $55,232,394. Investments held in the Trust Account declined to $1,744,299, and the Sponsor now holds approximately 80% of the Company’s 2,066,213 outstanding ordinary shares.
The Company remains a blank check entity focused on completing its proposed stock-for-stock Business Combination with HDEducation Group Limited for aggregate consideration of $300,000,000, all in Purchaser ordinary shares valued at $10.00 per share, plus potential earnout shares. With cash of $1,112,525 and working capital of $1,017,817, management discloses that the June 16, 2027 deadline and liquidity needs raise substantial doubt about the Company’s ability to continue as a going concern if no Business Combination is completed.
BEST SPAC I Acquisition Corp. reported Q1 2026 net income of $359,471, driven largely by $494,166 of interest earned on $56.7M of investments held in its trust account. General and administrative expenses were $145,134.
The SPAC held cash of $1,171,639 outside the trust and reported working capital of $1,133,278, with net cash used in operations of $123,420 for the quarter. As of March 31, 2026, 5,500,000 Class A shares were subject to redemption, carried at $56,118,258.
The company is pursuing a stock-for-stock Business Combination with HDEducation Group Limited valued at $300,000,000, plus up to 2,000,000 earnout shares tied to a $15.00 share-price hurdle. Management discloses substantial doubt about the ability to continue as a going concern if no Business Combination is completed by June 16, 2026.