Ogier advises BEST SPAC I Acquisition Corp on US$55 million Nasdaq IPO

Ogier's Corporate team in Hong Kong acted as British Virgin Islands counsel to BEST SPAC I Acquisition Corp on its US$55 million initial public offering on Nasdaq.

The BVI-incorporated special purpose acquisition company (SPAC) announced the closure of its initial public offering (IPO) on 16 June 2025. The IPO consisted of 5,500,000 units, and an over-allotment option to purchase up to 825,000 units, at an offering price of US$10 per unit. In total, the company generated gross proceeds in the region of US$55 million.

Units commenced trading on Nasdaq Capital Market under the ticker symbol BSAAU on 13 June 2025.

The team was led by partner Rachel Huang, with support from the firm's global head of Corporate Nathan Powell, legal managers Kingston Tang and Em Lou and paralegal Josie Ma. Ogier worked closely with the company's US counsel, Loeb & Loeb LLP.

BEST SPAC I intends to pursue business combinations with targets in the consumer goods sector.

Ogier's equity capital markets experts in Hong Kong provide BVI and Cayman counsel on the full SPAC lifecycle, including the establishment and listing of SPACs, as well as the subsequent de-SPAC process. Contact one of our team to find out more.