Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 125

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 125
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 received by shareholders may be less than $10.00 per public share.

The net proceeds of this offering and certain
proceeds from the sale of the private units, in the amount of $60,000,000 (or $69,000,000 if the over-allotment option is exercised in
full), will be held in an interest-bearing trust account. The proceeds held in the trust account may be held in demand deposit or cash
accounts or be invested only in U.S. government treasury bills with a maturity of 185 days or less or in money market funds meeting certain
conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. While
short-term U.S. treasury obligations currently yield a positive rate of interest, they have briefly yielded negative interest rates in
recent years. Central banks in Europe and Japan pursued interest rates below zero in recent years, and the Open Market Committee of the
Federal Reserve has not ruled out the possibility that it may in the future adopt similar policies in the United States. In the event
of very low or negative yields, the amount of interest income (which we may use to pay our taxes, if any) would be reduced. In the event
that we are unable to complete our initial business combination, our public shareholders are entitled to receive their pro-rata share
of the proceeds then held in the trust account, plus any interest income (net of taxes payable). If the balance of the trust account
is reduced below $60,000,000 (or $69,000,000 if the over-allotment option is exercised in full) as a result of negative interest rates,
the amount of funds in the trust account available for distribution to our public shareholders may be reduced below $10.00 per public
share.

If we are deemed to be an investment company under the Investment Company Act of 1940, we may be required to adhere to that Act and the rules promulgated thereunder, which may make it more difficult for us to affect our initial business combination.

If we do not qualify for an exclusion from the Investment Company Act, our activities may be regulated thereunder. This may include restrictions on our corporate governance as well as our investments. Other requirements that would apply to us if we were deemed to qualify for regulation under the Investment Company Act of 1940 include: registration as an investment company; adoption of a specific form of corporate structure; and reporting, record keeping, voting, proxy