Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 178

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 178
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 negotiating our initial business combination. Our management believes, however, that our status as a public entity and potential access to the United States public equity markets may give us a competitive advantage over privately held entities having a similar business objective as ours in connection with an initial business combination with a target business with significant growth potential on favorable terms.

If we succeed in effecting our initial business combination, there will be, in all likelihood, intense competition from competitors of the target business. Subsequent to our initial business combination, we may not have the resources or ability to compete effectively.

Facilities

We currently maintain our principal executive
offices at 1185 Avenue of the Americas, Suite 304, New York, NY 10036. The cost for the space is included in the First Amendment of Administrative
Services Agreement entered into on February 12, 2025 between us and our Sponsor, commencing on the effective date of the registration
statement of which this prospectus forms a part through the earlier of the Company’s consummation of a business combination or
the Company’s liquidation. Pursuant to the Administrative Services Agreement we will pay our Sponsor a monthly fee of $15,000 per
month for office space and administrative and support services. We consider our current office space, combined with the other office
space otherwise available to our executive officers, to be adequate for our current operations.

Employees

We have one executive officer. This individual is not obligated to devote any specific number of hours to our matters and intend to devote only as much time as he deems necessary to our affairs. The amount of time he will devote in any time period will vary based on whether a target business has been selected for the business combination and the stage of the business combination process the company is in. Accordingly, once a suitable target business has been identified, management will spend more time investigating such target business and negotiating and processing the business combination (and consequently spend more time on our affairs) than had been spent prior to locating a suitable target business. We do not intend to have any full-time employees prior to the consummation of our initial business combination.

Periodic Reporting and Audited Financial Statements

We will register our public units, public shares,
and public rights under the Securities Act and have reporting obligations under the Exchange Act, including the requirement that we file
annual, quarterly and current reports with the SEC. In accordance with the requirements of the Exchange Act, our annual report will contain
financial statements audited by our independent registered public accountants.

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