Company: QSEA
Filing Date: 2025-10-20
Form Type: 10-Q
Source: 0001829126-25-008252
Chunk: 1

Company: Quartzsea Acquisition Corp
Filing Date: 2025-10-20
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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    (10,166
    )
  
    Total Shareholders’ (Deficit) Equity

    (3,339,963
    )

    14,834

    Total Liabilities, Ordinary Shares Subject to Possible Redemption and Shareholders’ (Deficit) Equity
     
    $
    84,628,640

    $
    516,000

    (1)

     Ordinary shares have been retroactively restated to reflect two amendments to the Subscription Agreement, which allowed the Sponsor to increase the purchase of ordinary shares initially from 1,725,000 to 2,415,000, then to 2,898,000 shares for $25,000, including an aggregate of up to 378,000 ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5).
                     
                    As a result of the underwriter full exercise of its over-allotment option to purchase 1,080,000 units on March 19, 2025, no shares were subject to forfeiture.  

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

1

QUARTZSEA ACQUISITION CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    For the Three Months Ended August 31, 2025

    For theNine Months EndedAugust 31, 2025

    General and administrative expenses
     
    $
    564,800

    $
    1,326,051

    Loss from operations 

    (564,800
    )

    (1,326,051
    )

    Other income:

    Interest income

    4,101

    14,005

    Interest earned on investments held in Trust Account

    879,546

    1,572,491

    Total other income

    883,647

    1,586,496

    Net income
     
    $
    318,847

    $
    260,445

    Basic and diluted weighted average shares outstanding, ordinary shares subject to possible redemption

    8,280,000

    4,986,131

    Basic and diluted net income per share, ordinary shares subject to possible redemption
     
    $
    0.03

    $
    0.03

    Basic and diluted weighted average shares outstanding, non-redeem