Company: QSEA
Filing Date: 2025-06-06
Form Type: 8-K
Source: 0001829126-25-004323
Chunk: 3

Company: Quartzsea Acquisition Corp
Filing Date: 2025-06-06
Form: 8-K
Item: Item 1.01
Chunk 3
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  there                                                             

  Purchaser                                                                                                     

Purchaser
Parties’ Conditions to Closing

The
obligations of Purchaser Parties to consummate the transactions contemplated by the Agreement, in addition to the conditions described
above in the first paragraph of this section, are conditioned upon each of the following, among other things:

  Broadway Tech and its subsidiaries complying with all             

  subject to applicable materiality                                                                                                 

  all necessary governmental                                                   

  there having been no material adverse effect on Broadway  

  Quartzsea receiving duly executed legal opinions from    

  Broadway Tech shall have executed and delivered to                   

Termination

The
Agreement may be terminated and/or abandoned at any time prior to the closing, whether before or after approval of the proposals being
presented to Quartzsea’s shareholders, by:

  mutual written consent                                                                                                                 
  Quartzsea, if Broadway                                                                                                                 

  Broadway Tech, if any Purchaser                                                                                                    

  either party, if the other                                                                                                         

  In the event that the Agreement                                                                                                                

The
foregoing summary of the Agreement does not purport to be complete and is qualified in its entirety by reference to the actual agreement,
which is filed as Exhibit 2.1 hereto.

Shareholder
Support Agreement

Concurrently
with the execution of the Agreement, certain shareholders of Broadway Tech entered into a support agreement with the Parent, pursuant
to which each such shareholder of Broadway Tech agreed to vote in favor of the business combination, subject to the terms of such shareholder
support agreement.

The
foregoing description of the Shareholder Support Agreement does not purport to be complete and is qualified in its entirety by the terms
and conditions of the actual agreement, a copy of which is filed as Exhibit 10.1 hereto.

Lock-up
Agreement

In
connection with the transactions, Purchaser shall enter into a lock-up agreement with certain Broadway Tech shareholders with respect
to certain lock-up arrangements, which will provide that such Broadway Tech shareholders will not, within 180 days from the closing of
the business combination (subject to earlier release if the closing price of Purchaser Class A Ordinary Shares equals or exceeds $12.50
per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading
day period after the closing) and subject to certain exceptions, offer, sell, contract to sell, pledge or otherwise