Company: QSEA
Filing Date: 2025-03-20
Form Type: 8-K
Source: 0001829126-25-001935
Chunk: 4

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-20
Form: 8-K
Item: Item 8.01
Chunk 4
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Item 8.01 Other Events.

A total of $82,800,000 of
the net proceeds from the IPO, OA Option, and the Private Placement were placed in a U. S.-based trust account established for the benefit
of the Company’s public shareholders and maintained by Continental Stock Transfer & Trust Company, acting as trustee. Except
with respect to interest earned on the funds held in the trust account that may be released to the Company to pay its taxes (less up to
$50,000 of interest to pay liquidation and dissolution expenses), the Amended and Restated Memorandum and Articles of Association and
the trust agreement among the company and Continental Stock Transfer & Trust Company provide that the proceeds from this offering
will not be released from the trust account until the earliest of (a) the completion of our initial business combination; (b) the redemption
of any public shares properly submitted in connection with a shareholder vote to amend our Amended and Restated Memorandum and Articles
of Association to (i) modify the substance or timing of our obligation to provide for the redemption of our public shares in connection
with an initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within
the combination period or (ii) with respect to any other material provisions relating to shareholders’ rights or pre-initial business
combination activity; and (c) the redemption of our public shares if we are unable to complete our initial business combination, subject
to applicable law.

Copies of the press releases issued by the Company announcing the pricing of the IPO and the closing of the IPO are filed as Exhibits 99.1 and 99.2, respectively, hereto and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.