Company: SSEA
Filing Date: 2025-07-07
Form Type: S-1/A
Source: 0001829126-25-004904
Chunk: 294

Company: STARRY SEA ACQUISITION CORP
Filing Date: 2025-07-07
Form: S-1/A
Chunk 294
---
ment option is exercised in full) upon the consummation of this offering.

Representative shares

The Company will issue 175,000 ordinary shares (or 201,250 ordinary shares if the underwriter exercises over-allotment option in full) (“Representative shares”) to the representative of the underwriters (and/or its designees) as part of the underwriting compensation. The Representative shares have deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days beginning on the date of the commencement of sales of the Proposed Public Offering pursuant to FINRA Rule 5110(e)(1). Pursuant to FINRA Rule 5110(e)(1), these securities will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days beginning on the date of the commencement of sales of the Proposed Public Offering, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days beginning on the date of the commencement of sales of the Proposed Public Offering except to any underwriter and selected dealer participating in the offering and their officers, partners, registered persons or affiliates.

Note 7 — SHAREHOLDERS’ DEFICIT

Ordinary shares

Pursuant to the Founder Share Subscription Agreement dated February 14, 2025, the Sponsor agreed to purchase 1,437,500 Founder Shares for an aggregate price of $25,000, with a par value $0.0001. On February 14, 2025, 1,437,500 Founder Shares were issued to the Sponsor, and subsequently an aggregate of 120,000 Founder Shares transferred from Sponsor to one executive officer and two independent director nominees at nil consideration. Shares are presented on a retroactive basis.

As of March 31, 2025 and
December 31, 2024, there were 1,437,500 ordinary shares issued and outstanding, among which, up to 187,500 ordinary shares are
subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters, so that the Sponsor,
together with the Company’s executive officers and independent director nominees, will collectively beneficially own 22.26% of
the Company’s issued and outstanding shares after the Proposed Public Offering (not including the shares underlying the rights
included in the Units and Private Units and assuming