Company: SSEA
Filing Date: 2025-06-12
Form Type: S-1
Source: 0001829126-25-004429
Chunk: 99

Company: STARRY SEA ACQUISITION CORP
Filing Date: 2025-06-12
Form: S-1
Chunk 99
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 Act, with a maturity of 185 days
or less or in money market funds investing solely in United States Treasuries and meeting certain conditions under Rule 2a-7 under
the Investment Company Act. Because the investment of the proceeds will be restricted to these instruments, we believe we will meet the
requirements for the exemption provided in Rule 3a-1 promulgated under the Investment Company Act. However, it is possible that a
claim could be made that we have been operating as an unregistered investment company. See “—To mitigate the risk that we
might be deemed to be an investment company for purposes of the Investment Company Act, we may determine, in our discretion, to liquidate
the securities held in the trust account and instead hold all funds in the trust account in an interest bearing bank demand deposit account,
which may earn less interest than we otherwise would have if the trust account had remained invested in U.S. government securities or
money market funds.” If we were deemed to be an investment company under the Investment Company Act, our activities would be severely
restricted. In addition, we would be subject to burdensome compliance requirements, which would require additional expenses for which
we have not allotted funds and may hinder our ability to complete a business combination. As a result, unless we are able to modify our
activities so that we would not be deemed an investment company, we may be unable to consummate the initial business combination and instead
be required to conduct a liquidation. If we were required to liquidate, our investors would not be able to realize the benefits of owning
shares in a successor operating business, including the potential appreciation in the value of our securities following such a transaction,
and the public rights would expire worthless. If our facts and circumstances change over time, we will update our disclosure to reflect
how those changes impact the risk that we may be considered to be operating as an unregistered investment company.

To mitigate the risk that we might be deemed to be an investment company for purposes of the Investment Company Act, we may determine, in our discretion, to liquidate the securities held in the trust account and instead hold all funds in the trust account in an interest bearing bank demand deposit account, which may earn less interest than we otherwise would have if the trust account had remained invested in U.S. government securities or money market funds.

Following the consummation of our initial public offering, the funds in the trust account will be held only in U.S. government securities within the meaning set