Company: SEAH
Filing Date: 2025-08-29
Form Type: DRS/A
Source: 0001213900-25-082696
Chunk: 51

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-08-29
Form: DRS/A
Chunk 51
---
 Zhao, the 100% beneficial owner of Kumo Capital Limited, as of the date of this prospectus. (3)Represents [480] Class A Ordinary Shares indirectly held by Kunliang Xu, the 100% beneficial owner of HONOUR GLOBAL GROUP LIMITED, as of the date of this prospectus. (4)Represents [480] Class A Ordinary Shares indirectly held by Gaofei Ma, the 100% beneficial owner of Takumi Green Group Ltd., as of the date of this prospectus. (5)Represents [450] Class A Ordinary Shares indirectly held by Lixuan Ke, the 100% beneficial owner of LINK POWER VENTURES LIMITED, as of the date of this prospectus. (6)Represents [450] Class A Ordinary Shares indirectly held by Nini Deng, the 100% beneficial owner of Midori Earth Holdings Limited, as of the date of this prospectus. 31

USE OF PROCEEDS Based upon the assumed initial public offering price of $[ ] per Class A Ordinary Share, representing the midpoint of the estimated price range set forth on the cover page of this prospectus, we estimate that we will receive net proceeds from our issuance and sale of [] Class A Ordinary Shares in the Offering of approximately US$[] million, after deducting underwriting discounts and non -accountableexpenses and the estimated Offering expenses payable by us, if the underwriter does not exercise their over -allotmentoption, and approximately US$[ ] million, if the underwriter exercises its over -allotmentoption in full. We plan to use the net proceeds we receive from the Offering for the following purposes*:

| Use of Proceeds                                                                    |     | Percentage 
 of the net 
   proceeds |   |
| Global market expansion and localized operations(1)                                |     |         30 | % |
| Research, development, and optimization of AI-powered trading/matching system(2)   |     |         20 | % |
| ​Expansion into new recyclable categories and product line development(3)          |     |         15 | % |
| ​Domestic and international facility investment and environmental certification(4) |     |         20 | % |
| ​General working capital and financial stability reserves(5)                       |     |         15 | % |

____________ Note: (1)Approximately US$[ ] million, after deducting underwriting discounts and non -accountableexpenses and the estimated Offering expenses payable