Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 38

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 38
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 adversely affect the market price of our Class A Ordinary Shares. The dual-class structure of our Ordinary Shares has the effect of concentrating voting control with our chief executive officer, and their interests may not be aligned with the interests of our other shareholders. We have a dual -classvoting structure consisting of Class A Ordinary Shares and Class B Ordinary Shares. Under this structure, holders of Class A Ordinary Shares are entitled to one vote per Class A Ordinary Share, and holders of Class B Ordinary Shares are entitled to 20 votes per Class B Ordinary Share, which will cause the holders of Class B Ordinary Shares to have an unbalanced, higher concentration of voting power. As of the date of prospectus, Mr. Guanglang Jiang, our Director, Chairman of the Board of Directors, and Chief Executive Officer, and Mr. Shihai Bi, our Director and Chief Financial Officer, beneficially, collectively, own [ ], or 100%, of our issued Class B Ordinary Shares, representing approximately [ ]% of the voting rights in our Company. As a result, until such time as Mr. Guanglang Jiang’s and Mr. Shihai Bi’s voting power is below 50%, Mr. Guanglang Jiang and Mr. Shihai Bi as the controlling shareholders will have a controlling influence over our business, including decisions regarding mergers, consolidations and the sale of all or substantially all of our assets, election of directors, and other significant corporate actions. They may take actions that are not in the best interests of us or our other shareholders. These corporate actions may be taken even if they are opposed by our other shareholders. Further, such concentration of voting power may discourage, prevent, or delay the consummation of change of control transactions that shareholders may consider favorable, including transactions in which shareholders might otherwise receive a premium for their shares. Future issuances of Class B Ordinary Shares may also be dilutive to the holders of Class A Ordinary Shares. As a result, the market price of our Class A Ordinary Shares could be adversely affected. The dual-class structure of our Ordinary Shares may adversely affect the trading market for our Class A Ordinary Shares. Several shareholder advisory firms have announced their opposition to the use of multiple class structures. As a result, the dual -classstructure of our Ordinary Shares may cause shareholder advisory firms to publish negative commentary about our corporate governance practices or otherwise seek to cause us to change our capital structure. Any actions or publications by shareholder advisory firms critical of our corporate governance practices or capital structure could adversely affect the value of our Class A Ordinary