Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 54

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 54
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 deems relevant, and subject to the restrictions contained in any future financing instruments. We do not plan to pay any further dividends out of our retained earnings after listing our Class A Ordinary Shares on NASDAQ, as of the date of this prospectus. Subject to the BVI Act and our Memorandum and Articles, our board of directors may authorize and declare a dividend to shareholders at such time and of such an amount as they think fit if they are satisfied, on reasonable grounds, that immediately following the dividend payment, the value of our assets will exceed our liabilities and we will be able to pay our debts as they become due. There is no further BVI statutory restriction on the amount of funds which may be distributed by us as dividend payments. If we determine to pay dividends on any of our Class A Ordinary Shares in the future, as a holding company, we will be dependent on receipt of funds from our Operating Entity. Cash dividends, if any, on our Class A Ordinary Shares will be paid in U.S. dollars. Under the current practice of the Inland Revenue Department of Japan, no tax is generally payable in Japan in respect of dividends paid by us to non -residentsin Japan. See “ Regulations — Taxation” on page 87 and “ Taxation — Japanese Taxation” on page 112. 34

CAPITALIZATION The following table sets forth our capitalization as of [March 31, 2025]: •on an actual basis; •on an adjusted basis, giving effect to the issuance and sale of [ ] Class A Ordinary Shares by us in the Offering at the assumed initial public offering price of $[ ] per Class A Ordinary Share, which is the midpoint of the price range set forth on the cover page of this prospectus, after deducting the estimated underwriting discounts to the underwriter and other estimated offering expenses payable by us, assuming no exercise of the underwriter’s over -allotmentoption; and •on an adjusted basis, giving effect to the issuance and sale of [ ] Class A Ordinary Shares by us in the Offering at the assumed initial public offering price of $[ ] per Class A Ordinary Share, which is the midpoint of the price range set forth on the cover page of this prospectus, after deducting the estimated underwriting discounts to the underwriter and other estimated offering expenses payable by us, assuming the full exercise of the underwriter’s over -allotmentoption. You should read this table together with our consolidated financial statements and the related notes included elsewhere in this