Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 152

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 152
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113 We have agreed to reimburse the Representative up to a maximum of US$270,000 for out -of -pocketaccountable expenses (including the legal fees and other disbursements as disclosed below). As of the date of this prospectus, we have paid US$[*] to the Representative as an advance against out -of -pocketaccountable expenses. Any expenses advancement will be returned to us to the extent the representative’s out -of -pocketaccountable expenses are not actually incurred in accordance with FINRA Rule 5110(g)(4)(A). In addition, at the closing of the Offering, we shall reimburse the underwriter one percent (1%) of the gross proceeds of the Offering as non -accountableexpenses. We estimate that the total expenses of the Offering payable by us, excluding the underwriting discounts and non -accountableexpense allowance, will be approximately $[•]. Right of First Refusal We have agreed to grant the Representative, for a period of 12 months from the closing of the Offering, a right of first refusal, exercisable at the sole discretion of the Representative, to provide investment banking services to the Company on terms that are the same or more favorable to the Company comparing to terms offered to the Company by other underwriters/placement agents (such right, the “Right of First Refusal”), which shall include, without limitation, (a) acting as lead manager for any underwritten public offering; (b) acting as placement agent or initial purchaser in connection with any private offering of securities of the Company. This includes, without limitation, (a) any public or private offering of equity, equity -linked, debt, or convertible securities; (b) any merger, acquisition, disposition of assets, or similar transaction; and (c) any recapitalization, restructuring, or strategic investment (each, a “Subsequent Transaction”). The underwriter shall notify the Company of its intention to exercise the Right of First Refusal within three (3) business days following notice in writing by the Company. The right of first refusal shall be subject to FINRA Rule 5110(g)(5), including that it may be terminated by the Company for cause, which shall mean a material breach by the Representative of the Engagement Letter or a material failure by the Representative to provide the services as contemplated by the Engagement Letter. Lock-Up Agreements We have agreed, subject to some exceptions, not to transfer or dispose of, directly or indirectly, any of our Class A Ordinary