Company: SSEA
Filing Date: 2025-06-12
Form Type: S-1
Source: 0001829126-25-004429
Chunk: 292

Company: STARRY SEA ACQUISITION CORP
Filing Date: 2025-06-12
Form: S-1
Chunk 292
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0(e)(1), these securities will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person for a period of 180 days beginning on the date of the commencement of sales of the Proposed Public Offering, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days beginning on the date of the commencement of sales of the Proposed Public Offering except to any underwriter and selected dealer participating in the offering and their officers, partners, registered persons or affiliates.

Note 7 — SHAREHOLDERS’ DEFICIT

Ordinary shares

Pursuant to the Founder Share Subscription Agreement dated February 14, 2025, the Sponsor agreed to purchase 1,437,500 Founder Shares for an aggregate price of $25,000, with a par value $0.0001. On February 14, 2025, 1,437,500 Founder Shares were issued to the Sponsor, and subsequently an aggregate of 120,000 Founder Shares transferred from Sponsor to one executive officer and two independent director nominees at nil consideration. Shares are presented on a retroactive basis.

As of March 31, 2025 and
December 31, 2024, there were 1,437,500 ordinary shares issued and outstanding, among which, up to 187,500 ordinary shares are
subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters, so that the Sponsor,
together with the Company’s executive officers and independent director nominees, will collectively beneficially own 22.26% of
the Company’s issued and outstanding shares after the Proposed Public Offering (not including the shares underlying the rights
included in the Units and Private Units and assuming it does not purchase any Public Shares in the Proposed Public
Offering).

Rights

Except in cases where the Company is not the surviving company in a business combination, each holder of a right will receive one-sixth (1/6) of an ordinary share upon consummation of the initial business combination. In the event the Company will not be the surviving company upon completion of its initial business combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-sixth (1/6) of a share underlying each right upon consummation of the business combination unless otherwise waived in the course of the business combination