Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 195

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 195
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 the consummation of our business combination.

In order to meet our working capital needs following
the consummation of this offering, our insiders may, but are not obligated to lend working capital funds to us, on a non-interest bearing
basis, from time to time or at any time, in whatever amount they deem reasonable in their sole discretion. Each loan would be evidenced
by a promissory note. The notes would either be paid upon consummation of our initial business combination, without interest, or, at
the holder’s discretion, up to $1,500,000 of the notes may be converted into private units at a price of $10.00 per unit. If we
do not complete a business combination, any outstanding loans from our insiders or their affiliates, will be repaid only from amounts
not held in our trust account, if any.

The holders of our founder shares issued and outstanding
on the date of this prospectus, as well as the holders of the private units (and underlying securities) will be entitled to registration
rights pursuant to an agreement to be signed prior to or on the effectiveness of the registration statement of which this prospectus
forms a part as provided for in certain letter agreement among us, the Sponsor, and the underwriter. The holders of the founder shares
can elect to exercise these registration rights at any time after we consummate a business combination. In addition, the holders have
certain “piggyback” registration rights with respect to registration statements filed subsequent to our consummation of our
initial business combination. Notwithstanding anything to the contrary, the underwriters may only make a demand on one occasion and only
during the five-year period beginning on the effective date of the registration statement of which this prospectus forms a part. In addition,
the underwriters may participate in a “piggy-back” registration only during the seven-year period beginning on the effective
date of the registration statement of which this prospectus forms a part. We will bear the expenses incurred in connection with the filing
of any such registration statements.

<div align='center'>126</div>

The Sponsor has agreed that, commencing on the
effective date of the registration statement of which this prospectus forms a part through the earlier of the consummation of our initial
business combination or our liquidation, it will make available to us certain general and administrative services, including office space,
utilities, and administrative support, as we may require from time to time at $15,000