Company: QSEA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001829126-25-003185
Chunk: 70

Company: Quartzsea Acquisition Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 70
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 part, so that the Founder
Shares will represent 35% of our issued and outstanding shares after this offering (excluding the private shares). On March 17,
2025, the Company and the Sponsor entered into the Second Amendment to the Subscription Agreement, pursuant to which the purchased amount
of Founder Shares was adjusted to 2,898,000, of which 378,000 are subject to forfeiture.

On March 19, 2025,
the Company consummated its initial public offering (the “IPO”) of 7,200,000 units (the “Units”). Each Unit consists
of one ordinary share, par value $0.0001 per share, of the Company (the “Ordinary Shares”) and one right to receive one-fifth
(1/5) of one Ordinary Share upon the consummation of the Company’s initial business combination. The Units were sold at an offering
price of $10.00 per Unit, generating total gross proceeds of $72,000,000. In connection with the closing of the IPO, the underwriter
fully exercised its over-allotment option to purchase 1,080,000 additional Units for an aggregate of 8,280,000 Units sold.

Simultaneously with the
consummation of the IPO and the sale of the Units, the Company consummated the private placement (the “Private Placement”)
of 231,900 Units (the “Private Placement Units”), each Private Placement Unit consisting of one Ordinary Share and one right,
to the Sponsor at a price of $10.00 per Private Placement Unit, generating total gross proceeds of $2,319,000.

Following the closing of
our IPO, an aggregate of $82,800,000 from the net proceeds of the IPO and the sale of the Private Placement Units was held in the Trust
Account.

Item 3. Defaults Upon Senior Securities.

None.

Item 4. Mine Safety Disclosures.

Not Applicable.

Item 5. Other Information.

None.

21

Item 6. Exhibits

    Exhibit No.
     
    Description 
  
    10.9
     
    Finders’ Fee Agreement between the Registrant and Hugh Grow Investment Ltd.
  
    31.1
     
    Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a) and 15(d)-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 200