Company: QSEA
Filing Date: 2025-02-03
Form Type: DRS/A
Source: 0001829126-25-000616
Chunk: 120

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-03
Form: DRS/A
Chunk 120
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 of all principal and accrued interest, if any, if the debt security is payable on demand; |

| ● | our inability to obtain necessary additional financing if the debt security contains covenants restricting our ability to obtain such financing while the debt security is outstanding; and, |

| ● | limitations on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution of our strategy and other purposes and other disadvantages compared to our competitors who have less debt. |

We may issue additional ordinary shares to complete our initial business combination, which would reduce the equity interest of our shareholders and likely cause a change in control of our ownership.

Our Company is authorized to issue up to 500,000,000 ordinary shares, par value $0.0001 per share. Upon our initial capitalization, 1,725,000 ordinary shares were issued to our Sponsor as founder shares. Immediately after this offering (assuming that the underwriters have not exercised their over-allotment option and an aggregate of 225,000 ordinary shares have been forfeited), there will be 492,285,000 authorized but unissued ordinary shares (assuming no exercise of the underwriter’s over-allotment option). Beyond those shares anticipated to be issued as a result of the exchange of rights upon the consummation of the initial business combination, we have no other commitment as of the date of this offering, and we may issue a substantial number of additional ordinary shares to complete our initial business combination. The issuance of additional ordinary share:

| ● | may significantly reduce the equity interest of investors in this offering; |

| ● | may cause a change in 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 and directors; and |

| ● | may adversely affect prevailing market prices for our securities. |

We may only be able to complete one business combination with the proceeds of this offering, which will cause us to depend upon a single business which may have a limited number of products or services.

It is likely that we will consummate our initial business combination with only a single target business, although we will have the ability to simultaneously consummate our initial business combination with more than one target businesses. By consummating a business combination with only a single entity, our lack of diversification may subject us to numerous economic, competitive, and regulatory developments. Further, we would not be