Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 198

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 198
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 share capital is $50,000 divided into
500,000,000 ordinary shares of $0.0001 par value each. The following description summarizes the material terms of our ordinary shares
as set out more particularly in our Memorandum and Articles of Association to be adopted with effect from the effective date of the registration
statement of which this prospectus forms a part. Because it is only a summary, it may not contain all the information that is important
to you.

Units

Each unit has an offering price of $10.00 and consists
of one ordinary share and one right to receive one-tenth of one ordinary share commencing upon the consummation of the initial business
combination, as described in more detail in this prospectus.

We expect that the securities comprising the
public units will commence trading separately on the 52nd day following the consummation of this offering unless SAP informs us of its
decision to allow earlier separate trading, subject to our having filed the Current Report on Form 8-K described below and having issued
a press release announcing when such separate trading will begin. Once the public shares and public rights commence separate trading,
holders will have the option to continue to hold public units or separate their public units into the component securities. Holders will
need to have their brokers contact our transfer agent in order to separate the units into ordinary shares and rights.

In no event will the public shares and public
rights be traded separately until we have filed with the SEC a Current Report on Form 8-K that includes an audited balance sheet reflecting
our receipt of the gross proceeds at the consummation of this offering. We will file a Current Report on Form 8-K that includes this
audited balance sheet upon the completion of this offering, which closing is anticipated to take place three business days after the
date of this prospectus. If the underwriters’ over-allotment option is exercised following the initial filing of such Current Report
on Form 8-K, a second or amended Current Report on Form 8-K will be filed to provide updated financial information to reflect the exercise
of the underwriters’ over-allotment option.

Ordinary Shares

Prior to the date of this prospectus, there
were 2,415,000 ordinary shares issued and outstanding (315,000 of which will be subject to forfeiture if the underwriters do not exercise
their over-allotment option), all of which were held of record by our Sponsor. Upon the consummation of this