Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 226

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 226
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of 1986, as amended (the “Code”) (generally, property held for investment). This discussion assumes that the ordinary shares
and rights will trade separately and that any distributions made (or deemed made) by us on the ordinary shares and any consideration
received (or deemed received) by a holder in consideration for the sale or other disposition of our securities will be in U.S. dollars.
This discussion is a summary only and does not consider all aspects of U.S. federal income taxation that may be relevant to the acquisition,
ownership and disposition of a unit by a prospective investor in light of its particular circumstances or that is subject to special
rules under the U.S. federal income tax laws, including, but not limited to:

| ● | our Sponsor, officers, directors or                                  
 other holders of our founder shares or private placement securities; |

| ● | banks and other financial institutions 
 or financial services entities;        |

| ● | broker-dealers; |

| ● | mutual funds; |

| ● | retirement plans, individual retirement  
 accounts or other tax-deferred accounts; |

| ● | taxpayers that are subject to the    
 mark-to-market tax accounting rules; |

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| ● | tax-exempt entities; |

| ● | S-corporations, partnerships or other        
 flow-through entities and investors therein; |

| ● | governments or agencies or instrumentalities 
 thereof;                                     |

| ● | insurance companies; |

| ● | regulated investment companies; |

| ● | real estate investment trusts; |

| ● | passive foreign investment companies; |

| ● | controlled foreign corporations; |

| ● | qualified foreign pension funds; |

| ● | expatriates or former long-term residents 
 of the United States;                     |

| ● | persons that actually or constructively        
 own five percent or more of our voting shares; |

| ● | persons that acquired our securities                                                                                              
 pursuant to an exercise of employee share options, in connection with employee share incentive plans or otherwise as compensation 
 or in connection with services;                                                                                                   |

| ● | persons required for U.S. federal                                                                                         
 income tax purposes to conform the timing of income accruals to their financial statements under Section 451 of the Code; |

| ● | persons subject to the alternative 
 minimum tax;                       |

| ● | persons that hold our securities as                                                                       
 part of a straddle, constructive sale, hedging, conversion or other integrated or similar transaction; or |

| ● |