Large Insider Sale at Sea (SE) Signals Potential Supply Pressure

Q: How many Sea (SE) shares does Coast Bridge plan to sell under Rule 144?

The filing states an intention to sell 1,666,685 ADS .

Q: What is the estimated market value of the planned sale by Coast Bridge?

The aggregate market value is approximately $264.2 million .

Q: When is the proposed sale date for the 1.67 million SE ADS?

The Form 144 lists an approximate sale date of 26 June 2025 .

Q: What percentage of Sea’s outstanding shares does the proposed sale represent?

About 0.3 % of the 546,492,141 ADS outstanding.

Q: Which broker will handle the planned transaction for Coast Bridge?

The shares are slated to be sold through Goldman Sachs & Co. LLC .

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

144

Rhea-AI Filing Summary

Sea (NYSE: SE) filed a Form 144 notifying the SEC that affiliate Coast Bridge Investments Ltd plans to sell up to 1,666,685 American Depositary Shares (ADS), representing roughly 0.3 % of the 546.5 million ADS outstanding. The proposed transaction, to be executed through Goldman Sachs & Co. LLC, carries an estimated market value of $264.2 million and is slated for on-or-about 26 June 2025.

The filing also discloses a pattern of recent disposals by the same affiliate: multiple trades over the last three months, including a single-day sale of 185,190 ADS for $28.5 million on 13 May 2025, alongside dozens of smaller transactions. No operating results, risk factors or strategic updates accompany the notice.

While a Form 144 does not obligate execution, it signals intent and may foreshadow increased share float and potential near-term selling pressure for SE shares.

Positive

None.

Negative

Affiliate Coast Bridge Investments Ltd intends to sell 1,666,685 ADS worth approximately $264.2 million, increasing potential near-term share supply.
Filing details extensive prior sales by the same affiliate over the last three months, including a 185,190-ADS block for $28.5 million, indicating continued selling pressure.

Insights

TL;DR: $264 M planned affiliate sale adds supply risk amid ongoing disposal trend.

The filing reveals a sizeable Rule 144 sale—1.67 M ADS—well below the 1 % volume cap (≈5.46 M ADS/3 months) but still material at $264 M. Combined with numerous prior trades, Coast Bridge has been a persistent seller, potentially dampening short-term price momentum. The broker mandate to Goldman Sachs suggests an orderly offering, yet the magnitude may pressure liquidity-sensitive investors. No offsetting positives (e.g., buybacks, insider purchases) appear in the document, so sentiment skews negative. Overall impact: heightened supply and a possible signal of reduced insider conviction.

06/26/2025 - 05:01 PM

144: Filer Information

Filer CIK

0001966558

Filer CCC

XXXXXXXX

Is this a LIVE or TEST Filing?

LIVE TEST

Submission Contact Information

Name

Phone

E-Mail Address

144: Issuer Information

Name of Issuer

Sea Limited

SEC File Number

001-38237

Address of Issuer

1 Fusionopolis Place
No 17-10, Galaxis
Singapore
SINGAPORE
138522

Phone

65-6270-8100

Name of Person for Whose Account the Securities are To Be Sold

COAST BRIDGE INVESTMENTS LIMITED

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Other: Affiliate

144: Securities Information

Title of the Class of Securities To Be Sold

Name and Address of the Broker

Number of Shares or Other Units To Be Sold

Aggregate Market Value

Number of Shares or Other Units Outstanding

Approximate Date of Sale

Name the Securities Exchange

ADS

Goldman Sachs & Co. LLC
200 West Street
New York NY 10282

1666685

264186239.35

546492141

06/26/2025

NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class

Date you Acquired

Nature of Acquisition Transaction

Name of Person from Whom Acquired

Is this a Gift?

Date Donor Acquired

Amount of Securities Acquired

Date of Payment

Nature of Payment *

ADS

11/10/2022

Execution of vested employee stock options

Issuer

1666685

11/10/2022

Compensation for service rendered

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller

Title of Securities Sold

Date of Sale

Amount of Securities Sold

Gross Proceeds