Best SPAC I Acquisition Corp. Announces Agreement to Merge with HDEducation Group Limited
Best SPAC I Acquisition Corp. has announced it has entered into a merger agreement with HDEducation Group Limited, High Distinction Group Limited, and BEST SPAC I Mini Sub Acquisition Corp. Under the terms of the agreement, Best SPAC I Acquisition Corp. will merge with and into High Distinction Group Limited, with the latter continuing as the surviving entity. As part of the transaction, all issued and outstanding shares of Best SPAC I Acquisition Corp. will be converted into equivalent shares of High Distinction Group Limited. Additionally, Class B Ordinary Shares of Best SPAC I Acquisition Corp. will automatically convert into Class A Ordinary Shares, and Parent Units will be separated into their constituent securities. The company disclosed that, following the effective time of the merger, every outstanding share of High Distinction Group Limited issued prior to the merger will be cancelled and retired.
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