Company: SSEA
Filing Date: 2025-04-11
Form Type: DRS/A
Source: 0001829126-25-002569
Chunk: 165

Company: STARRY SEA ACQUISITION CORP
Filing Date: 2025-04-11
Form: DRS/A
Chunk 165
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 and an immediate dilution of $8.28, representing 96.6% (or $8.32, representing 97.1%) 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 $0.32 (or $0.27 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.

The following table illustrates the dilution to the new investors on a per-share basis:

|                                                                                     |     | No exercise of 
 over-allotment 
 option         |       |   |     | Exercise of    
 over-allotment 
 option in full |       |   |
|:------------------------------------------------------------------------------------|:----|:---------------|------:|:--|:----|:---------------|------:|:--|
| Public offering price(1)                                                            |     | $              |  8.57 |   |     | $              |  8.57 |   |
| Net tangible book deficit before this offering                                      |     | $              | (0.03 | ) |     | $              | (0.02 | ) |
| Increase attributable to public shareholders and sale of the private units          |     | $              |  0.32 |   |     | $              |  0.27 |   |
| Pro forma net tangible book value after this offering and sale of the private units |     | $              |  0.29 |   |     | $              |  0.25 |   |
| Dilution to public shareholders                                                     |     | $              |  8.28 |   |     | $              |  8.32 |   |
| Percentage of dilution to public shareholders                                       |     |                |  96.6 | % |     |                |  97.1 | % |

| (1) | Each unit has an offering price of $10.00 and consists of one ordinary share and one right to receive one-sixth (1/6) of an ordinary share upon the consummation of an initial business