Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 174

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 174
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, if we hold a shareholder vote to amend any provisions of our Post-offering Memorandum and Articles of Association relating
to shareholder’s rights or pre-business combination activity (including the substance or timing within which we have to complete
a business combination), or if the shareholders seek to have us redeem their respective public shares upon a business combination which
is actually completed by us. In no other circumstances shall a shareholder have any right or interest of any kind to or in the trust
account.

If we are forced to file a bankruptcy case
or an involuntary bankruptcy case is filed against us which is not dismissed, the proceeds held in the trust account could be subject
to applicable bankruptcy law, and may be included in our bankruptcy estate and subject to the claims of third parties with priority over
the claims of our shareholders. To the extent any bankruptcy claims deplete the trust account, the per public share redemption or conversion
amount received by public shareholders may be less than $10.00.

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If, after we distribute the proceeds in the trust account to our public shareholders, we file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, any distributions received by shareholders could be viewed under applicable debtor-creditor and/or bankruptcy laws as either a “preferential transfer” or a “fraudulent conveyance.” As a result, a bankruptcy court could seek to recover all amounts received by our shareholders. In addition, our board of directors may be deemed as having breached its fiduciary duty to our creditors and/or having acted in bad faith, thereby exposing itself and us to claims of punitive damages, by paying public shareholders from the trust account prior to addressing the claims of creditors. Claims may be brought against us for these reasons.

Post-offering Memorandum and Articles of Association

Our Post-offering Memorandum and Articles
of Association to be adopted with effect from the effectiveness of this prospectus will contain certain requirements and restrictions
relating to this offering that will apply to us until the consummation of our initial business combination. If we hold a shareholder
vote to amend any provisions of our Post-offering Memorandum and Articles of Association relating to shareholder’s rights or pre-business
combination activity (including the substance or timing within which we have to complete a business combination), we will provide our
public shareholders with the opportunity to redeem their public shares upon approval of any such amendment at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in