Starry Sea Acquisition Corp Reports Q3 2025 Financial Results and Pursues Merger with Forever Young International

Starry Sea Acquisition Corp, a blank check company incorporated in the Cayman Islands, reported its financial results for the third quarter of 2025, revealing a net income of $70,389 for the three months ended September 30, 2025. This income was primarily driven by $323,479 in interest earned on cash held in the Trust Account, which was partially offset by formation and operating costs totaling $253,090. For the nine months ended September 30, 2025, the company recorded a net loss of $36,715, reflecting total operating costs of $360,194 against the same interest income.

The company’s balance sheet as of September 30, 2025, shows total assets of $58.4 million, a significant increase from $25,000 reported at the end of 2024. This growth is largely attributed to the successful completion of its initial public offering (IPO) on August 11, 2025, where it raised $50 million by selling 5 million units at $10 each, along with an additional $7.5 million from an over-allotment option exercised by underwriters. The funds from the IPO are primarily held in a Trust Account, which is intended to be used for future business combinations.

In terms of operational developments, Starry Sea Acquisition Corp has not yet commenced any business operations but is actively pursuing a merger. On September 29, 2025, the company entered into a letter of intent with Forever Young International Limited, a health industry operator in China, for a proposed business combination valued between $750 million and $900 million. This agreement includes a period of exclusivity for negotiations, indicating a strategic move towards finalizing a significant acquisition.

The company’s shareholder equity has also seen a notable change, moving from a deficit of $6,974 at the end of 2024 to a positive equity of $7.5 million as of September 30, 2025. This shift is primarily due to the issuance of additional shares during the IPO and private placement, which included 1,885,871 ordinary shares outstanding as of the reporting date. The company has also accrued $16,774 for administrative support services provided by its sponsor, reflecting ongoing operational costs.

Looking ahead, Starry Sea Acquisition Corp aims to utilize the proceeds from its IPO and private placement to facilitate its initial business combination and cover associated expenses. The company has indicated that it does not anticipate needing additional capital beyond these proceeds to meet its liquidity needs prior to the completion of a business combination. However, it acknowledges the potential for increased expenses as it continues to operate as a public entity and pursue its acquisition strategy.