Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 112

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 112
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 a combination target, we have no commitments as of the date of this prospectus to issue any notes or other debt securities, or to otherwise incur outstanding debt, but we may choose to incur substantial debt to complete our business combination. Under such a scenario, the incurrence of debt may have a variety of negative effects, including:

| ● | default and foreclosure on our assets if our operating revenues after our initial business combination are insufficient to repay our debt obligations; |

| ● | acceleration of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant; |

| ● | our immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand; |

| ● | our inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such financing while the debt security is outstanding; and, |

| ● | limitations on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution of our strategy and other purposes and other disadvantages compared to our competitors who have less debt. |

We may issue additional ordinary shares to complete our initial business combination, which would reduce the equity interest of our shareholders and likely cause a change in control of our ownership.

Our Company is authorized to issue up to 500,000,000
ordinary shares, par value $0.0001 per share. Upon our initial capitalization, 2,415,000 ordinary shares were issued to our Sponsor as
founder shares. Immediately after this offering (assuming that the underwriters have not exercised their over-allotment option and an
aggregate of 315,000 ordinary shares have been forfeited), there will be 491,681,750 authorized but unissued ordinary shares (assuming
no exercise of the underwriter’s over-allotment option). Beyond those shares anticipated to be issued as a result of the exchange
of rights upon the consummation of the initial business combination, we have no other commitment as of the date of this offering, and
we may issue a substantial number of additional ordinary shares to complete our initial business combination. The issuance of additional
ordinary share:

| ● | may significantly reduce the equity interest of investors in this offering; |

| ● | may cause a change in control if a substantial number of ordinary shares are issued, which may affect, among other things, our ability