Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 150

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 150
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 purposes of the dilution calculation, in order
to present the maximum estimated dilution as a result of this offering, we have assumed (i) the issuance of one-fifth of a share for
each right outstanding, as such issuance will occur upon a business combination without the payment of additional consideration and (ii)
the number of ordinary shares included in the units offered hereby will be deemed to be 7,200,000 ordinary shares (consisting of 6,000,000
ordinary shares included in the units we are offering by this prospectus and 1,200,000 ordinary shares for the outstanding rights), and
the price per share in this offering will be deemed to be $8.33. After giving effect to the sale of 6,000,000 ordinary shares included
in the units we are offering by this prospectus (or 6,900,000 ordinary shares if the underwriters’ over-allotment option is exercised
in full) and assuming the issuance of 1,200,000 ordinary shares upon the conversion of the rights included in the units (or 1,380,000
ordinary shares if the underwriters’ over-allotment option is exercised in full)), the sale of the private units and estimated
expenses of this offering, our pro forma net tangible book deficit at November 30, 2024, would have been $1,415,696 or $(0.40) per share
(or $1,692,666 or $(0.42) per share if the underwriters’ over-allotment option is exercised in full), representing an immediate
decrease in net tangible book value of $0.33 per share (or $0.35 per share if the underwriters’ over-allotment option is exercised
in full) to the initial shareholders and an immediate dilution of 104.8% per share or $8.73 (or 105.0% or $8.75 per share if the underwriters’
over-allotment option is exercised in full) to new investors not exercising their conversion/tender rights.

|                                             |     | Without   Over-allotment |       |   |     | With   Over-allotment |       |   |
|:--------------------------------------------|:----|:-------------------------|------:|:--|:----|:----------------------|------:|:--|
| Public                                      
 offering price                              |     | $                        |  8.33 |   |