Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 174

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 174
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 approve a proposed initial business combination or a vote
to amend the provisions of our Post-offering Memorandum and Articles of Association relating to shareholders’ rights or pre-business
combination activity with respect to any ordinary shares owned by them, directly or indirectly, whether acquired prior to this offering
or purchased by them in this offering or in the aftermarket.

Liquidation if No Business Combination

If we do not consummate an initial business
combination within 15 months from the consummation of this offering, we will (i) cease all operations except for the purpose of winding
up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, subject to lawfully available funds therefor,
redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account including
interest earned on the funds held in the trust account and not previously released to us (which interest shall be net of taxes payable),
divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders’ rights
as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly
as reasonably possible following such redemption, subject to the approval of our remaining shareholders and our board of directors, dissolve
and liquidate, subject (in the case of (ii) and (iii) above) to our obligations under Cayman Islands law to provide for claims of creditors
and the requirements of other applicable law. At such time, the rights will expire and holders of the rights will receive nothing upon
a liquidation with respect to such rights, and the rights will be worthless.

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We will seek to have all third parties (including
any vendors or other entities we engage after this offering) and any prospective target businesses enter into valid and enforceable agreements
with us waiving any right, title, interest or claim of any kind they may have in or to any monies held in the trust account. The underwriters
in this offering will execute such a waiver agreement. As a result, the claims that could be made against us will be limited, thereby
decreasing the likelihood that any claim would result in any liability extending to the trust. We therefore believe that any necessary
provision for creditors will be reduced and should not have a significant impact on our ability to distribute the funds in the trust
account to our public shareholders. Nevertheless, there