Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 269

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 269
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 15% or more of the Public Shares, without the prior consent of the Company.

The Initial Shareholders have agreed (a) to waive
their redemption rights with respect to the Founder Shares, Private Shares, and Public Shares held by them in connection with the completion
of a Business Combination and (b) not to propose, or vote in favor of, an amendment to the amended and restated memorandum and articles
of association that would affect the substance or timing of the Company’s obligation to redeem 100% of its Public Shares if the
Company does not complete a Business Combination, unless the Company provides the public shareholders with the opportunity to redeem
their Public Shares in conjunction with any such amendment.

The Company have 15 months from the consummation
of this offering to consummate its initial business combination (“Combination Period”). If the Company is unable to complete
a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up,
(ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price,
payable in cash, equal to the aggregate amount then on deposit in the trust account including interest (which interest shall be net of
taxes payable), divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders’
rights as shareholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii)
as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining shareholders and
the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Cayman
Islands law to provide for claims of creditors and the requirements of other applicable law.

The Sponsor and the other Initial Shareholders have
agreed to waive their rights to liquidating distributions from the Trust Account with respect to the Founder Shares, and Private Shares
if the Company fails to complete a Business Combination within the Combination Period. However, if the Sponsor or the other Initial Shareholders
acquires Public Shares in or after the Proposed Public Offering, such Public Shares will be entitled to liquidating distributions from
the Trust Account if the Company fails to complete a Business Combination within the Combination Period.

<div align='center'>F-8</div>

<div align='center'>QUARTZSEA ACQUISITION CORPORATION

NOTES TO FINANCIAL STATEMENTS</div>

Note 1 —