[Form 3] Starry Sea Acquisition Corp Unit Initial Statement of Beneficial Ownership
Peter Jianfeng Chen filed an initial Form 3 disclosing beneficial ownership of 40,000 ordinary shares of Starry Sea Acquisition Corp (ticker SSEA), held of record by Rainbow Rocket Limited. The filing states Mr. Chen is a director of the issuer and that Rainbow Rocket Limited is wholly owned by him with an address in Hong Kong. The Form 3 is dated 08/07/2025 for the event and signed on 08/21/2025.
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Insights
TL;DR: Director reports 40,000 shares indirectly through a wholly owned entity; disclosure is routine and non-material to valuation.
The Form 3 records an initial beneficial ownership position for a director rather than a large insider stake. The 40,000 ordinary shares are held of record by Rainbow Rocket Limited, which the filer states is wholly owned by Mr. Chen. From an analyst perspective this is a standard Section 16 disclosure establishing transparency about insider holdings. There are no derivative positions or additional transactions disclosed that would materially change outstanding share counts or control.
TL;DR: Proper Section 16 disclosure filed; indirect ownership via a wholly owned entity is clearly identified.
The filing identifies Mr. Chen as a director and clearly describes the indirect ownership vehicle and its Hong Kong address. This meets basic corporate governance expectations for initial insider reporting. There is no indication of amendments or conflicting filings. The absence of options, warrants, or other derivative disclosures means the reported position is straightforward for compliance review.