Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 285

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 285
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 or willful neglect. To the extent permitted by law, we may make a payment, or agree to make a payment, whether by way of advance, loan or otherwise, for any legal costs incurred by an existing or former director (including alternate director), secretary or any of our officers in respect of any matter identified in above on condition that the director (including alternate director), secretary or officer must repay the amount paid by us to the extent that it is ultimately found not liable to indemnify the director (including alternate director), the secretary or that officer for those legal costs. We will enter into
agreements with our directors and officers to provide contractual indemnification in addition to the indemnification provided for in
our Post-offering Memorandum and Articles of Association. We expect to purchase a policy of directors’ and officers’ liability
insurance that insures our officers and directors against the cost of defense, settlement or payment of a judgment in some circumstances
and insures us against our obligations to indemnify our officers and directors.

Our officers and directors have
agreed to waive any right, title, interest or claim of any kind in or to any monies in the trust account, and have agreed to waive any
right, title, interest or claim of any kind they may have in the future as a result of, or arising out of, any services provided to us
and will not seek recourse against the trust account for any reason whatsoever (except to the extent they are entitled to funds from
the trust account due to their ownership of public shares). Accordingly, any indemnification provided will only be able to be satisfied
by us if (i) we have sufficient funds outside of the trust account or (ii) we consummate an initial business combination.

We believe that these provisions,
the insurance, and the indemnity agreements are necessary to attract and retain talented and experienced officers and directors.

Insofar as indemnification for
liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing
provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities
Act and is therefore unenforceable.

<div align='center'>II-1</div>

Item 15. Recent Sales of Unregistered Securities.

On November 5, 2024,
our Sponsor purchased 1,725,000 ordinary shares, known as the founder shares (225,000 of which are subject to forfeiture) for an aggregate
purchase price