Company: SSEA
Filing Date: 2025-04-11
Form Type: DRS/A
Source: 0001829126-25-002569
Chunk: 94

Company: STARRY SEA ACQUISITION CORP
Filing Date: 2025-04-11
Form: DRS/A
Chunk 94
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The purchase price for the initial shares payable by our initial shareholders was $25,000, or approximately $0.017 per share. Accordingly, you will experience immediate and substantial dilution from the purchase of our ordinary shares.

The difference between the public offering price per share and the pro forma net tangible book value per share after this offering constitutes a dilution to the investors in this offering. Our initial shareholders acquired their initial shares at a nominal price, significantly contributing to this dilution. Upon consummation of this offering, you and the other new investors will incur an immediate and substantial dilution of approximately 96.6% or $8.28 per share (or $8.32, representing 97.1% if the underwriters exercise their over-allotment option in full) (the difference between the public offering price per share and the pro forma net tangible book deficit per share of $0.03 per share. This is because investors in this offering will be contributing approximately 95.6% of the total amount paid to us for our outstanding securities after this offering but will only own approximately 77.2% of our outstanding securities (assuming the over-allotment option is not exercised). Accordingly, the per-share purchase price you will be paying substantially exceeds our per share net tangible book value.

Our outstanding rights or the conversion of the promissory notes upon consummation of our business combination into private units may have an adverse effect on the market price of our ordinary shares and make it more difficult to effect a business combination.

Assuming the over-allotment option is not exercised, we will be issuing rights included in the units offered by this prospectus that will result in the issuance of up to 833,333 ordinary shares upon consummation of our business combination, as well as rights included in the private units to be purchased by the sponsor that will result in the issuance of an additional 38,686 ordinary shares upon consummation of our business combination. Additionally, the sale, or even the possibility of sale, of the shares underlying the rights could have an adverse effect on the market price for our securities or on our ability to obtain future financing. If to the extent these rights are converted, you may experience dilution to your holdings.

If our shareholders exercise their registration rights with respect to their securities, it may have an adverse effect on the market price of our ordinary shares and the existence of these rights may make it more difficult to effect a business combination.

Our initial shareholders are