Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 157

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 157
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 of the gross proceeds of the Proposed Public Offering, or $2,400,000
(or $2,760,000 if the over-allotment option is exercised in full), and such deferred fee shall be capped at such amount so remaining
in the Trust Account. To the extent that our ordinary shares are used in whole or in part as consideration to affect our initial business
combination, the remaining proceeds held in the trust account as well as any other net proceeds not expended will be used as working
capital to finance the operations of the target business. Such working capital funds could be used in a variety of ways including the:
continuation or expansion of the operations of the target business; strategic acquisitions and marketing; and, research and development
of existing or new products. Such funds can also be used to repay any operating expenses, finders’ fees, consulting fees or other similar compensation, which we might incur prior to the consummation
of our initial business combination if the funds available to us outside of the trust account are insufficient to cover such expenses.

We believe that, upon the consummation of
this offering, the $1,052,500 held outside of the trust account will be sufficient to allow us to operate for at least the next 15 months,
assuming that a business combination is not consummated during that time. Over this time period, we will use these funds for identifying
and evaluating prospective business combination candidates; performing due diligence of prospective target businesses; traveling to and
from the offices, plants, or similar locations of prospective target businesses; reviewing corporate documents and material agreements
of prospective target businesses; and, selecting the target business to consummate our initial business combination with as well as the
structuring, negotiation and consummation of the business combination. We anticipate that we will incur approximately:

| ● | $350,000 of legal, accounting and other expenses attendant to the structuring and negotiation of a business combination; |

| ● | $40,000 of third party expenses related to the search for target businesses and the due diligence investigation, structuring and negotiation of our initial business combination; |

| ● | $90,000 of legal and accounting fees related to SEC reporting obligations; |

| ● | $170,000 for director and officer insurance premiums; |

| ● | $300,000 for the payment of the administrative fee to our Sponsor ($20,000 per month for 15 months), 
 subject to deferral as described herein;                                                             |

| ● | $60,000 as