Company: SSEA
Filing Date: 2025-07-07
Form Type: S-1/A
Source: 0001829126-25-004904
Chunk: 170

Company: STARRY SEA ACQUISITION CORP
Filing Date: 2025-07-07
Form: S-1/A
Chunk 170
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 exercised in full), and (iii) the issuance of 175,000 ordinary shares as representative shares (or 201,250 ordinary shares if the over-allotment option is exercised in full) as such issuance will occur upon a business combination without the payment of additional consideration.

As of March 31, 2025, our
net tangible book deficit, excluding deferred offering cost, was $346,618, or approximately $(0.28) (or $(0.24) if the underwriters exercise
their over-allotment option in full) per ordinary share. For the purposes of the dilution calculation, in order to present the maximum
estimated dilution as a result of this offering, we have assumed the issuance of one-sixth of one ordinary share for each right outstanding,
as such issuance will occur upon a business combination without the payment of additional consideration. After giving effect to the sale
of 5,000,000 (or 5,750,000 if the underwriters exercise their over-allotment option in full) ordinary shares included in the units we
are offering by this prospectus, the sale of the private placement units, the ordinary shares issuable for the rights, and the deduction
of underwriting discounts and estimated expenses of this offering, our pro forma net tangible book value at March 31, 2025 would have
been $408,382 or $0.16 per ordinary share (or $408,382, or $0.14 per ordinary share if the underwriters exercise their over-allotment
option in full), representing an immediate increase in net tangible book value of $0.44 (or $0.38) per ordinary share to our initial shareholders
and an immediate dilution of $8.41, representing 98.1% (or $8.43, representing 98.4%) per ordinary share to new investors not exercising
their redemption rights. For purposes of presentation, our pro forma net tangible book value after this offering is $0.44 (or $0.38 if
the underwriters exercise their over-allotment option in full) less than it otherwise would have been because if we effect our initial
business combination, the redemption rights of the public shareholders (but not our insiders) may result in the conversion or tender of
up to 5,000,000 ordinary shares (or 5,750,000 ordinary shares if the underwriters exercise their over-allotment option in full) sold in
this offering