Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 146

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 146
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 in the trust account. |

| (2) | This represents the estimated costs and the discounts. |

| (3) | These expenses are estimates only. Our actual expenditures for some or all of these items may differ from the estimates set forth herein. For example, we may incur greater legal and accounting expenses than our current estimates in connection with negotiating and structuring our initial business combination based upon the level of complexity of that business combination. We do not anticipate any change in the categories of our intended use of proceeds. |

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Our Sponsor has committed to purchase an aggregate
of 245,000 private units (or 256,250 private units if the underwriters’ over-allotment option is exercised in full) at $10.00 per
private unit for a total purchase price of $2,450,000 (or $2,562,500 if the underwriters’ over-allotment option is exercised in
full) from us. All of the proceeds we receive from these purchases will be placed in the trust account described below. We are not permitted
to use the proceeds placed in the trust account and the interests earned thereon to pay any excise taxes or any other similar fees or
taxes in nature that may be imposed on the Company pursuant to any current, pending or future rules or laws.

$60,300,000, or $69,345,000 if the over-allotment
option is exercised in full, of net proceeds of this offering and the sale of the private units, will be deposited into a United States-based
trust account maintained by Continental Stock Transfer & Trust Company, acting as trustee. The funds held in the trust account will
be held in demand deposit or cash accounts or invested only in United States government treasury bills, bonds, or notes having a maturity
of 185 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the Investment
Company Act of 1940 and that invest solely in U.S. treasuries, so that we are not deemed to be an investment company under the Investment
Company Act. Except with respect to interest earned on the funds held in the trust account that may be released to us to pay our tax
obligations (less up to $50,000 of interest to pay liquidation and dissolution expenses), the proceeds will not be released from the
trust account until the earlier of the completion of our initial business combination or our