Company: QSEA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001829126-25-003185
Chunk: 46

Company: Quartzsea Acquisition Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 46
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% on the first $69,000,000 of the gross proceeds from the IPO, plus 0.50% on the remaining $13,800,000, totaling $586,500
including the full excise of over-allotment option by the underwriter. In addition, the underwriter is entitled to a deferred fee of
4.0% of the gross proceeds of the IPO, or $3,312,000, which will be paid upon the closing of a Business Combination solely from amounts
remaining in the Trust Account following all properly submitted shareholder redemption in connection with the consummation of the initial
Business Combination and such deferred fee shall be capped at such amount so remaining in the Trust Account.

    13

Right of First Refusal

The Company has granted SAP a right of first refusal for a period commencing from the consummation of the IPO until the earlier of (i) 10 months after the consummation of the initial business combination (or the liquidation of the Trust Account in the event that the Company fails to consummate its initial business combination within the prescribed time period) or (ii) 36 months after the consummation of the IPO in accordance with FINRA Rule 5110(g)(6)(A) to act as lead financial advisor, capital markets advisor, underwriter and/or private placement agent in connection with any initial business combination or in connection with any financing that occurs between the closing of the IPO and the date that is the earlier of (i) 10 months after the closing of the initial business combination or (ii) 36 months after the consummation of the IPO.

Note 7 — Shareholder’s Deficit

Ordinary shares — The Company’s
Post-offering Memorandum and Articles of Association to be adopted with effect from the effectiveness of this prospectus will be authorized
to issue up to 500,000,000
ordinary shares, par value $0.0001
per share. Holders of ordinary shares are entitled to one vote for each share held on all matters to be voted on by the shareholders,
except as required by law. On November 5, 2024, the Company issued to the Sponsor 1,725,000
ordinary shares for $25,000.
On February 12, 2025, the Company and the Sponsor entered into the First Amendment to the Subscription Agreement, pursuant to which
the purchased amount of shares was adjusted to 2,415,000
ordinary shares. On March