Company: SSEA
Filing Date: 2025-07-07
Form Type: S-1/A
Source: 0001829126-25-004904
Chunk: 295

Company: STARRY SEA ACQUISITION CORP
Filing Date: 2025-07-07
Form: S-1/A
Chunk 295
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 it does not purchase any Public Shares in the Proposed Public
Offering).

Rights

Except in cases where the Company is not the surviving company in a business combination, each holder of a right will receive one-sixth (1/6) of an ordinary share upon consummation of the initial business combination. In the event the Company will not be the surviving company upon completion of its initial business combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-sixth (1/6) of a share underlying each right upon consummation of the business combination unless otherwise waived in the course of the business combination. No fractional shares will be issued upon exchange of rights. No additional consideration will be required to be paid by a holder of rights in order to receive its additional shares upon consummation of a business combination. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of Cayman Islands law.

<div align='center'>F-13</div>

Note 8 — SEGMENT INFORMATION

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s CODM, or group, in deciding how to allocate resources and assess performance.

The Company’s CODM has been identified as the Chief Executive Officer (“CODM”), who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has one operating segment.

The CODM assesses performance
for the single segment and decides how to allocate resources based on net income or loss that also is reported on the statement of operations
as net income or loss. The net loss is the measure of segment profit (loss) most consistent with U.S. GAAP that is regularly reviewed
by the CODM to allocate resources and assess financial performance. The Company does not have an operating income and therefore, it does
not have any revenue. The Company will not generate any operating revenues until after the completion of the Business Combination, at
the earliest. The Company’s significant expenses were formation and operating costs as detailed below. The measure of segment assets
is reported on the balance sheet as total assets.

When evaluating the Company’s performance and making key decisions regarding resource