Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 152

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 152
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 |     | $                   |  2,450,000 |     |            |   3.92 | % |     | $         | 9.09 |
| Public          
 shareholders(3) |     |           | 6,600,000 |     |            |  73.58 | % |     | $                   | 60,000,000 |     |            |  96.04 | % |     | $         | 9.09 |
| Total           |     |           | 8,969,500 |     |            | 100.00 | % |     | $                   | 62,475,000 |     |            | 100.00 | % |     |           |      |

| (1) | Assumes no exercise of the over-allotment option                                                                    
 and forfeiture by our Sponsor of 315,000 shares of ordinary shares.                                                 |
| (2) | Includes the issuance of an additional 24,500 ordinary                                                              
 shares underlying the rights contained in the private units.                                                        |
| (3) | Includes the issuance of an additional 600,000 ordinary shares underlying the rights contained in the public units. |

<div align='center'>96</div>

In addition to the potential dilution reflected in the table above, there are several material sources of future dilution that may occur following our offering. We have the ability to issue additional ordinary shares or other equity securities to raise capital, in connection with completing our initial business combination, or as part of any subsequent financing, such a PIPE transaction. Such issuances may be at prices below the current market value or net tangible book value per share, further diluting existing stockholders.

We may issue additional ordinary shares under
an employee incentive plan after completion of our initial business combination. Equity-based compensation plans may be adopted or expanded
to attract and retain management, employees, and advisors, particularly in connection with the initial business combination. The issuance
of equity awards under such plans, including stock options or restricted stock, would result in further dilution to existing stockholders.
Any such issuances would dilute the interest of our shareholders and likely present other risks. We are authorized to issue up to 500,000,000
ordinary share, par value $0.0001 per share. Immediately after this offering, there will be 491,655,000 authorized but unissued ordinary
shares (assuming no exercise of the underwriter’s over-allotment option), which amount