Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 205

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 205
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 surviving entity, the definitive agreement will provide
for the holders of rights to receive the same consideration per ordinary share into which the rights may be converted as the holders
of the ordinary shares will receive in the transaction on an as-converted into ordinary shares basis.

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We will not issue fractional ordinary shares in
connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed
in accordance with Cayman Islands law. As a result, you must hold rights in multiples of five in order to receive ordinary shares for
all of your rights upon closing of a business combination. If we are unable to complete an initial business combination within the required
time period and we liquidate the funds held in the trust account, holders of rights will not receive any of such funds with respect to
their rights, nor will they receive any distribution from our assets held outside of the trust account with respect to such rights. Further,
there are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of an initial business
combination. Additionally, in no event will we be required to net cash settle the rights. Accordingly, the rights may expire worthless.

Our rights will be issued in registered form under
a rights agreement between Continental Stock Transfer & Trust Company, as rights agent, and us. The rights agreement provides that
the terms of the rights may be amended without the consent of any holder to cure any ambiguity or correct any defective provision. The
rights agreement requires the approval by the holders of at least a majority of the then outstanding rights in order to make any change
that adversely affects the interests of the holders of the rights.

Private Rights

The private rights have terms and provisions that
are identical to those of the rights being sold as part of the units in this offering.

The private rights (including the ordinary shares
issuable upon conversion of the rights) will not be transferable, assignable, or salable until 30 days after the completion of our initial
business combination (except as described herein).

Dividends

We have not paid any cash dividends on our ordinary
shares to date and do not intend to pay cash dividends prior to the completion of a business combination. The payment of cash dividends
in the future will be dependent upon our revenues and earnings, if any, capital requirements, and general financial condition subsequent
to completion of a business combination. The payment of any dividends subsequent to a business combination will be within the