Company: SSEA
Filing Date: 2025-03-05
Form Type: DRS
Source: 0001829126-25-001469
Chunk: 3

Company: STARRY SEA ACQUISITION CORP
Filing Date: 2025-03-05
Form: DRS
Chunk 3
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 shareholder approval to amend our amended and restated memorandum and articles of association to extend the date by which we must consummate our initial business combination. If we seek shareholder approval for an extension, our public shareholders will be offered an opportunity to redeem their shares at a per share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (net of taxes payable and up to $100,000 of interest released to us to pay dissolution expenses), divided by the number of then issued and outstanding public shares, subject to applicable laws. If we are unable to complete our initial business combination within the 12-month period or such period that may be extended, we will distribute the aggregate amount then on deposit in the trust account, including interest (net of taxes payable and up to $100,000 of interest released to us to pay dissolution expenses), pro rata to our public shareholders, by way of the redemption of their shares and thereafter cease all operations except for the purposes of winding up of our affairs, as further described herein.

Our sponsor, STARRY SEA INVESTMENT LIMITED, has committed to purchasing from us an aggregate of 229,121 units (or up to 2,441,210 units if the underwriters’ over-allotment option is exercised in full) (the “private units”) at $10.00 per private unit for a total purchase price of $2,291,210 (or $2,441,210 if the underwriters’ over-allotment option is exercised in full). These purchases will take place on a private placement basis simultaneously with the consummation of this offering. These private units are identical to the units sold in this offering, subject to limited exceptions as further described herein. A portion of the proceeds we receive from these purchases will be placed in the trust account described below.

Our sponsor, together with
our [two] executive officers and [three] independent director nominees (which we collectively refer to as our “initial shareholders”
as further described herein), will hold in aggregate 1,437,500 ordinary shares of par value USD0.0001 each (“ordinary shares”)
or founder shares (up to 187,500 of which are subject to forfeiture depending on the extent to which the underwriters’ over-allotment
option is exercised) immediately prior to this offering.

Our sponsor paid $25,000 for an aggregate of 1,437,500 ordinary shares, and it subsequently transferred [12,000] ordinary shares to [one