Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 105

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 105
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 public shares upon the approval of any such amendment in the manner set
out in the Post-offering Memorandum and Articles of Association. In all other instances, our Post-offering Memorandum and Articles of
Association may be amended by holders of at least two-third majority of the voting power of our outstanding ordinary shares entitled
to vote thereon, subject to applicable provisions of the Cayman Islands law or applicable stock exchange rules.

The Sponsor will hold, in the aggregate, approximately
35% of the voting power of our ordinary shares issued and outstanding immediately following the IPO (excluding the private shares), will
participate in any vote to amend our Post-offering Memorandum and Articles of Association and/or trust agreement, and will have the discretion
to vote as it deems.

As a result, we may be able to amend the provisions
of our Post-offering Memorandum and Articles of Association which govern our pre-initial-business-combination behavior more easily than
some other blank check companies, and this may increase our ability to complete an initial business combination with which you do not
agree. Our shareholders may pursue remedies against us for any breach of our Post-offering Memorandum and Articles of Association.

The excise tax included in the Inflation Reduction Act of 2022 may decrease the value of our securities following our initial business combination, hinder our ability to consummate an initial business combination, and decrease the amount of funds available for distribution in connection with a liquidation .

The Inflation Reduction Act of 2022 provides for, among other things, a new 1% U.S. federal excise tax on certain repurchases (including redemptions) of stock by publicly traded U.S. corporations and certain U.S. domestic subsidiaries of publicly traded foreign corporations after December 31, 2022 (the “stock buyback tax”), subject to certain exceptions. If applicable, the amount of the stock buyback tax is generally 1% of the aggregate fair market value of any stock repurchased by the corporation during a taxable year, net of the aggregate fair market value of certain new stock issuances by the repurchasing corporation during the same taxable year. On April 9, 2024, the U.S. Department of the Treasury issued proposed regulations addressing the application of the excise tax. The proposed regulations provide certain rules upon which taxpayers are generally entitled to rely until publication of final regulations. The proposed regulations clarify that certain distributions in complete liquidation or pursuant to a resolution or plan of dissolution generally are not rep