Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 195

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 195
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 private units at $10.00 per private unit for a total purchase price of $2,182,500 from us. Our Sponsor has also agreed that
if the over-allotment option is exercised by the underwriters in full or in part, they and/or their designees will purchase from us up
to an additional 6,750 private units at a price of $10.00 per unit in an amount that is necessary to maintain in the trust account $10.00
per unit sold to the public in this offering. This purchase will occur by way of private placements contemporaneous to the consummation
of this offering. The private units are identical to the public units sold in this offering. Additionally, the Sponsor has agreed not
to transfer, assign, or sell any of the private units or underlying securities until at least 30 days following the consummation of our
initial business combination.

In order to meet our working capital needs following
the consummation of this offering, our insiders may, but are not obligated to lend funds to us on a non-interest bearing basis, from
time to time or at any time, in whatever amount they deem reasonable in their sole discretion. Each loan would be evidenced by a promissory
note. The notes may be repaid either upon consummation of our initial business combination, without interest, or, at the holder’s
discretion, up to $1,500,000 of the notes may be converted into private units at a price of $10.00 per unit. If we do not complete a
business combination, any outstanding loans from our insiders or their affiliates will be repaid only from amounts not held in our trust
account, if any.

Our Sponsor and our Chief Executive Officer are deemed
to be our “promoters,” as that term is defined under the federal securities laws.

<div align='center'>127</div>

<div align='center'>Certain Relationships and Related Party Transactions</div>

On November 5, 2024, our Sponsor purchased
1,725,000 ordinary shares for an aggregate purchase price of $25,000. On February 12, 2025, the Company and the Sponsor entered into
the First Amendment to the Subscription Agreement, pursuant to which the purchased amount of shares was adjusted to 2,415,000 ordinary
shares, $0.0104 per ordinary share. If the underwriters do not exercise the over-allotment option in full, up to 315,000 ordinary