Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 37

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 37
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 be    
 unable to consummate our initial business combination within such period, we may seek shareholder approval to amend our amended and 
 restated memorandum and articles of association to extend the date by which we must consummate our initial business combination.    
 If we seek shareholder approval for an extension, our public shareholders will be offered an opportunity to redeem their shares at  
 a per share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (net of  
 taxes payable), divided by the number of then issued and outstanding public shares, subject to applicable laws. There is no limit   
 on the number of extensions that we may seek. If we determine not to extend, or fail to obtain shareholder approval to extend, the  
 time period to consummate our initial business combination, and the time to consummate our initial business combination expires,    
 our Sponsor’s investment in our founder shares and our private units will be worthless.                                             |

| There is no limitation on our ability to raise funds privately or through loans in connection with our initial business combination. Our initial business combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of the value of the funds held in the trust account (excluding taxes payable on the income earned on the trust account) at the time of the agreement to enter into the initial business combination. If we are no longer listed on Nasdaq, we will not be required to satisfy the 80% test. However, we intend to satisfy the requirement of the 80% test even if our securities are not listed on Nasdaq at the time of our initial business combination because this is a requirement in our Memorandum and Articles of Association which may only be avoided pursuant to an affirmative shareholder vote to amend the certificate. We do not intend to purchase multiple businesses in unrelated industries in conjunction with our initial business combination. |

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| We anticipate structuring our initial business combination so that the post-transaction company in which our public shareholders own shares will own or acquire 100% of the equity interests or assets of the target business or businesses. However, we may structure our initial business combination so that the post-transaction company owns or acquires less than 100% of such interests or assets of the target business in order to meet certain objectives of the target management team or shareholders, or for other reasons. However, we will only complete an initial business combination if the post-transaction company owns or acquires 50%