Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 248

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 248
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 proceeds of the Proposed Public Offering, or $2,400,000 (or $2,760,000 if the over-allotment option is exercised      
 in full), 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.                                                                   |

We estimate that the total expenses of
the offering payable by us, not including the underwriting discount, will be approximately $1.1 million. We have agreed to pay for
(i) fees and disbursements of the representative’s counsel (not to exceed $20,000) incurred in registering the offering with
FINRA and (ii) the cost of background checks from an investigative search firm of the representative’s choice to conduct
investigations of our principals (not to exceed $20,000).

No discounts or commissions will be paid on the sale
of the private units.

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Right of First Refusal

We have granted SAP a right of first refusal
for a period commencing from the consummation of this offering until the earlier of (i) 10 months after the consummation of our initial
business combination (or the liquidation of the trust account in the event that we fail to consummate our initial business combination
within the prescribed time period) or (ii) 36 months after the consummation of this offering 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 this offering.

Additionally, we have committed to utilize SAP as
the sole underwriter for the offering for the next initial public offering as a SPAC that involves the sponsor or any member of the management
team or board of directors of the sponsor or of the Company that occurs within 36 months after the consummation of this offering in accordance with FINRA Rule 5110(g)(6)(A).

Regulatory Restrictions on Purchase of Securities.In connection with the offering, the underwriters may purchase and sell units in the