Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 50

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 50
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 proceeds of the Offering. If an unforeseen event occurs or business conditions change, we may use the proceeds of the Offering differently than as described in this prospectus. To the extent that the net proceeds we receive from the Offering are not immediately used for the above purposes, we intend to invest our net proceeds in short -term, interest -bearingbank deposits or debt instruments. These investments may have a material adverse effect on the U.S. federal income tax consequences of an investment in our Class A Ordinary Shares. It is possible that we may become a passive foreign investment company for U.S. federal income taxpayers, which could result in negative tax consequences to you. These consequences are discussed in more detail in “Taxation” on page 105. 33 DIVIDEND POLICY We have never declared or paid any cash dividends on our Class A Ordinary Shares. We do not have any present plan to pay any cash dividends on our Class A Ordinary Shares in the foreseeable future after the Offering. We currently intend to retain most, if not all, of our available funds and any future earnings to support operations and to finance the growth and development of the Operating Entity’s business. As disclosed above, we currently intend to retain all of their respective remaining funds and future earnings, if any, for the operations and expansion of the business of the Operating Entity and do not anticipate declaring or paying any further dividends after listing our Class A Ordinary Shares on NASDAQ. Any future determination related to our dividend policy will be made at the discretion of our board of directors after considering our financial condition, results of operations, capital requirements, contractual requirements, business prospects and other factors the board of directors 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