Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 44

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 44
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 the purpose of winding        
 up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, subject to lawfully available funds therefor, 
 redeem 100% of the outstanding public shares for a pro rata portion of the funds held in the trust account (initially $10.05 per          
 public share), plus a pro rata portion of any interest earned on the funds held in the trust account and not previously released          
 to us to pay our taxes (less up to $50,000 of interest to pay liquidation and dissolution expenses), which redemption will completely     
 extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if              
 any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval          
 of our remaining holders of ordinary shares and our board of directors, dissolve and liquidate, subject (in the case of (ii) and          
 (iii) above) to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable      
 law. At such time, the rights will expire and holders of the rights will receive nothing upon a liquidation with respect to such          
 rights, and the rights will be worthless.                                                                                                 |

| In connection with                                                                                                                   
 our redemption of 100% of our outstanding public shares, each holder will receive an amount equal to (1) the number of public shares 
 being redeemed by such public holder divided by the total number of public shares multiplied by (2) the amount then in the trust     
 account (initially $10.05 per public share), plus a pro rata portion of any interest earned on the funds held in the trust account   
 and not previously released to us to pay our taxes (less up to $50,000 of interest to pay liquidation and dissolution expenses).     |

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| The proceeds deposited in the trust account could, however, become subject to the claims, if any, of our creditors that are in preference to the claims of our shareholders. We may not have funds sufficient to pay or provide for all creditors’ claims. Although we will seek to have all vendors, service providers (excluding our independent registered public accounting firm), prospective target businesses, and other entities with which we do business execute agreements with us waiving any right, title, interest or claim of any kind in or to any monies held in the trust account for the benefit of our public shareholders,