Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 261

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 261
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 forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5).      
 Ordinary shares have been retroactively restated to reflect an amendment to the Subscription Agreement, which allowed the Sponsor to 
 increase the purchase of ordinary shares from 1,725,000 to 2,415,000 shares for $25,000, including an aggregate of up to 315,000     
 ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 
 5 and Note 9).                                                                                                                       |

<div align='center'>The accompanying notes are an integral part of these
financial statements.

F-4</div>

<div align='center'>QUARTZSEA ACQUISITION CORPORATION

STATEMENT OF CHANGES IN SHAREHOLDER’S EQUITY

FOR THE PERIOD FROM NOVEMBER 5, 2024 (INCEPTION) THROUGH NOVEMBER 30, 2024</div>

|                                 |     | Ordinary 
 Shares   
 Shares   |           |     | Amount |     |     | Additional 
 Paid-in    
 Capital    |        |     | Accumulated 
 Deficit     |         |   |     | Total         
 Shareholders’ 
 Equity        |         |   |
|:--------------------------------|:----|:---------|----------:|:----|:-------|----:|:----|:-----------|-------:|:----|:------------|:--------|:--|:----|:--------------|--------:|:--|
| Balance                         
 – November 5, 2024 (Inception)  |     |          |         - |     | $      |   - |     | $          |      - |     | $           | -       |   |     | $             |       - |   |
| Founder                         
 shares issued to the Sponsor(1) |     |          | 2,415,000 |     |        | 242 |     |            | 24,758 |     |             | -       |   |     |               |  25,000 |   |
| Net                             
 loss                            |     |          |         - |     |        |   - |     |            |      - |     |             | (10,166 | ) |     |               | (10,166 | ) |
| Balance                         
 – November 30, 2024             |     |          | 2