Company: SEAH
Filing Date: 2025-07-24
Form Type: DRS
Source: 0001213900-25-067275
Chunk: 30

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-07-24
Form: DRS
Chunk 30
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 our public company reporting requirements. It may also be more difficult for us to find qualified persons to serve on our board of directors or as executive officers. We are currently evaluating and monitoring developments with respect to these rules and regulations, and we cannot predict or estimate with any degree of certainty the amount of additional costs we may incur or the timing of such costs. Following the Offering, WISDOM FOCUS GROUP LTD., our controlling shareholder, will continue to own more than a majority of the voting power of our outstanding Ordinary Shares. As a result, WISDOM FOCUS GROUP LTD. will have the ability to control the outcome of matters submitted to the shareholders for approval. Additionally, we may be deemed to be a “controlled company” and may follow certain exemptions from certain corporate governance requirements that could adversely affect our public shareholders. Upon completion of the Offering, our controlling shareholder, WISDOM FOCUS GROUP LTD., will beneficially own approximately []% of the aggregate voting power of our outstanding Ordinary Shares, assuming no exercise of the underwriter’s over -allotmentoption, or approximately [ ]%, assuming full exercise of the underwriter’s over -allotmentoption. As a result, WISDOM FOCUS GROUP LTD. will have the ability to control the outcome of matters submitted to the shareholders for approval, including the election of directors and any merger, consolidation, or sale of all or substantially all of our assets. Under the NASDAQ listing rules, a company of which more than 50% of the voting power is held by an individual, group, or another company is a “controlled company” and is permitted to elect to rely, and may rely, on certain exemptions from the obligation to comply with certain corporate governance requirements, including: •the requirement that our director nominees must be selected or recommended solely by independent directors; and •the requirement that we have a corporate governance and nominating committee that is composed entirely of independent directors with a written charter addressing the committee’s purpose and responsibilities. Although we do not intend to rely on the “controlled company” exemptions under the NASDAQ listing rules even if we are deemed to be a “controlled company,” we could elect to rely on these exemptions in the future. If we were to elect to rely on the “controlled company” exemptions, a majority of the members of our board of directors might not be independent directors and our nominating and corporate governance and compensation committees might not consist entirely of independent directors. Accordingly, if we rely on the exemptions, during the period we 19 remain a controlled