Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 33

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 33
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 combination activity, on any amendment to certain provisions of our Post-offering Memorandum and Articles of Association or on our initial business combination). The issuance of additional ordinary shares may (i) significantly dilute the equity interest of investors in this offering, (ii) cause a change of control if a substantial number of ordinary shares are issued, which may affect, among other things, our ability to use our net operating loss carry forwards, if any, and could result in the resignation or removal of our present officers, directors, and director nominees; and, (iii) adversely effect prevailing market prices of our units, ordinary shares and/or rights. Because our Sponsor acquired the founder shares at a nominal price, our public shareholders will incur immediate and substantial dilution upon the closing of this offering. See the section titled “ Risk Factors — Risks Relating to our Securities — The value of the founder shares following completion of our initial business combination is likely to be substantially higher than the nominal price paid for them, even if the trading price of our public shares at such time is substantially less than $10.00 per share.” Additionally, our Sponsor has agreed to loan us up to $500,000 to be used for a portion of the expenses of this offering, which amount will be repaid upon closing of this offering. We will also reimburse our Sponsor $20,000 per month for office space and administrative services made available to us, each as described elsewhere in this prospectus.

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Pursuant to a letter agreement to be entered with us, each of our Sponsor, director nominees and officers has agreed to restrictions on the ability to transfer, assign, or sell the founder shares and private units owned by them, if any, as summarized in the table below:

| Subject Shares |     | Persons Subject                             
 to Restrictions                             |     | Expiration Date                                                                                                                        |     | Exceptions to Transfer Restrictions                                                                                                     |
| Founder        
 Shares         |     | Sponsor,                                    
 director nominees, officers and transferees |     | The founder shares are subject                                                                                                         
 to transfer restrictions pursuant to lock-up provisions in a letter agreement with us to be entered into by our Sponsor, officers      
 and directors. The earlier of (a) 180 days after the completion of our initial business combination or (b) subsequent to our initial   
 business combination, the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction 
 that results in all of our shareholders having the right to exchange their ordinary