Company: SSEA
Filing Date: 2025-07-07
Form Type: S-1/A
Source: 0001829126-25-004904
Chunk: 165

Company: STARRY SEA ACQUISITION CORP
Filing Date: 2025-07-07
Form: S-1/A
Chunk 165
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 a private placement that will occur simultaneously with the purchase of units resulting from the exercise of the over-allotment option. All of the proceeds we receive from these purchases will be placed in the trust account described below.

$50,000,000, or $57,500,000
if the over-allotment option is exercised in full, of the net proceeds of this offering and the sale of the private units will be placed
in an account in the United States maintained by Odyssey Transfer and Trust Company as trustee. Pursuant to the investment management
trust agreement that will govern the investment of such funds, the funds held in trust will be invested only in United States government
treasury bills, bonds or notes having a maturity of 185 days or less, or in money market funds meeting the applicable conditions under
Rule 2a-7 promulgated under the Investment Company Act and that invest solely in United States government treasuries, so that we
are not deemed to be an investment company under the Investment Company Act. Except with respect to interest earned on the funds held
in the trust account that may be released to us to pay our income or other tax obligations, the proceeds will not be released from the
trust account until the earlier of the completion of a business combination or our liquidation. The proceeds held in the trust account
may be used as consideration to pay the sellers of a target business with which we complete a business combination to the extent not
used to pay converting shareholders. Any amounts not paid as consideration to the sellers of the target business may be used to finance
the operations of the target business.

The payment to our sponsor of a monthly fee of $10,000, in the aggregate for up to $150,000, is for general and administrative services including office space, utilities and secretarial and administrative support. However, pursuant to the terms of such agreement, we may delay payment of such monthly fee upon a determination by our audit committee that we lack sufficient funds held outside the trust to pay actual or anticipated expenses in connection with our initial business combination. Any such unpaid amount will accrue without interest and be due and payable no later than the date of the consummation of our initial business combination. We believe that the fee charged by an affiliate of our sponsor is at least as favorable as we could have obtained from an unaffiliated person. This arrangement will terminate upon. completion of our initial business combination or the distribution of the trust account to our public shareholders. Other than the $10,000