Company: SEAH
Filing Date: 2025-11-24
Form Type: F-1/A
Source: 0001213900-25-113788
Chunk: 58

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-11-24
Form: F-1/A
Chunk 58
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 net tangible book value per Class A Ordinary Share after the Offering. Dilution results from the fact that the initial public offering price per Class A Ordinary Share is substantially in excess of the net tangible book value per Class A Ordinary Share attributable to the existing shareholders for our presently outstanding Class A Ordinary Shares. Our negative net tangible book value as of March 31, 2025 was $2,222,110, or $0.09 per Ordinary Share. Net tangible book value represents the amount of our total consolidated tangible assets, less the amount of our total consolidated liabilities. Dilution is determined by subtracting the adjusted net tangible book value per Ordinary Share from the initial public offering price per Class A Ordinary Share and after deducting the estimated underwriting discounts and non -accountableexpenses to the underwriter and the estimated offering expenses payable by us. After giving further effect to our sale of Class A Ordinary Shares in the Offering at an assumed initial public offering price of $5.00 per Class A Ordinary Share, which is the midpoint of the price range set forth on the cover page of this prospectus, and after deducting estimated offering expenses payable by us, our as adjusted net tangible book value as of March 31, 2025 is approximately $10,361,597, or approximately $0.41 per Ordinary Share. This represents an immediate increase in as adjusted net tangible book value per Ordinary Share of $0.32 to our existing shareholders and an immediate dilution in as adjusted net tangible book value per Class A Ordinary Share of approximately $4.59 to new investors purchasing Class A Ordinary Shares in the Offering. The following table illustrates such dilution:

|                                                                                                           |     | Post-       
 Offering(1) |      |     | Full           
 Exercise of    
 Over-Allotment 
 Option         |      |
| Assumed Initial public offering price per Class A Ordinary Share                                          |     | US$         | 5.00 |     | US$            | 5.00 |
| Net tangible book value per Ordinary Share as of March 31, 2025                                           |     | US$         | 0.09 |     | US$            | 0.09 |
| As adjusted net tangible book value per Ordinary Share attributable to payments by new investors          |     | US$         | 0.32 |     | US$            | 0.36 |
| Pro forma net tangible book value per Ordinary Share immediately after the Offering                       |     | US$         | 0.41 |