Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 127

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 127
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 obligation to redeem 100% of the public shares issued in this offering if we do not complete our initial business combination within
the 15 months from the consummation of this offering, or (C) with respect to any other provision relating to shareholders’ rights
or pre-initial business combination activity; or (iii) absent a business combination within prescribed time periods our return of the
funds held in the trust account to our public shareholders by redeeming their public share. Thus this offering is not intended for persons
who are seeking a return on investments in government securities or investment securities.

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If we do not invest the proceeds as discussed
above, we may be deemed to be subject to the Investment Company Act. In such a scenario, compliance with these additional regulations
would require additional expenses for which we have not allotted funds and may hinder our ability to complete our initial business combination
or result in our liquidation. If we are unable to complete our initial business combination, our public shareholders may receive only
approximately $10.00 per public share, or less in certain circumstances, upon the liquidation of our trust account.

Notwithstanding that we have limited our activities
as described above, we could nevertheless be considered to be operating as an unregistered investment company. If we were deemed to be
an investment company for purposes of the Investment Company Act, we would need to register as such under the Investment Company
Act and compliance with these additional regulatory burdens would require additional expenses for which we have not allotted funds
and may hinder our ability to complete a business combination. We may also be forced to abandon our efforts to complete an initial business
combination, and instead be required to liquidate the trust account and may be required to change our operations or wind down our operations.
In which case, our investors would not be able to realize the benefits of owning shares in a successor operating business, including the
potential appreciation in the value of our securities following such a transaction, and our rights would expire worthless.

If our facts and circumstances change over time, we will update our disclosure in future filings with the SEC to reflect how those changes impact the risk that we may be considered to be operating as an unregistered investment company.

Public shareholders, together with any affiliates of theirs or any other person with whom they are acting in concert or as a “group,” will be restricted from seeking conversion rights with respect to more than 15% of the public shares sold in this offering.

In connection with any meeting held to