Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 129

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 129
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 business combination.

Also, under the Holding Foreign Companies Accountable Act, if the PCAOB determines that it cannot inspect or fully investigate the auditor of a company that is our initial business combination target, then Nasdaq may delist our securities because this might cause us to no longer qualify for Nasdaq’s prerequisites for continued listing on its market.

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If Nasdaq delists our securities from trading on its exchange, we could face significant material adverse consequences, including:

| ● | limited price discovery for our securities; |

| ● | reduced liquidity for our securities; |

| ● | a determination that our shares constitute “penny stock” and hence require brokers trading in our shares to adhere to more stringent rules, possibly resulting in a reduced level of trading activity in the secondary trading market for our shares; |

| ● | a limited news and analyst coverage of our company; and |

| ● | a decreased ability to issue additional securities or to obtain additional financing in the future. |

Our Sponsor purchased 2,415,000 ordinary shares, 315,000 of which are subject to forfeiture, for an aggregate of $25,000. Our Sponsor also will purchase up to 218,250 private placement units in connection with this offering (assuming the overallotment is exercised in full), and thus, you will experience substantial dilution upon the consummation of our initial business combination when our Sponsor’s economic interest in us will cease to be restricted.

The difference between the public offering
price per share (allocating all of the unit purchase price to the ordinary shares and none to the right included in the unit) and the
pro forma net tangible book value per our ordinary shares after this offering constitutes the dilution to you and the other investors
in this offering. Our Sponsor acquired the founder shares at a nominal price, significantly contributing to this dilution. Upon the closing
of this offering, and assuming no value is ascribed to the rights included in the units, you and the other public shareholders will incur
an immediate and substantial dilution of approximately 104.8% or $8.73 per share, assuming no exercise of the underwriters’ over-allotment
option), the difference between the pro forma net tangible book value per share of $(0.40) and the deemed offering price of $8.33 per
share included in the units (adjusted to include the value of the rights).

The nominal purchase price paid by our Sponsor for the founder shares may result in significant dilution