Company: QSEA
Filing Date: 2025-02-03
Form Type: DRS/A
Source: 0001829126-25-000616
Chunk: 168

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-03
Form: DRS/A
Chunk 168
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 could be used in a variety of ways including the: continuation or expansion of the operations of the target business; strategic acquisitions and marketing; and, research and development of existing or new products. Such funds can also be used to repay any operating expenses or finders’ fees which we might incur prior to the consummation of our initial business combination if the funds available to us outside of the trust account are insufficient to cover such expenses.

We believe that, upon the consummation of this offering, the $1,020,000 held outside of the trust account and the permitted withdrawals will be sufficient to allow us to operate for at least the next 12 months, assuming that a business combination is not consummated during that time. Over this time period, we will use these funds for identifying and evaluating prospective business combination candidates; performing due diligence of prospective target businesses; traveling to and from the offices, plants, or similar locations of prospective target businesses; reviewing corporate documents and material agreements of prospective target businesses; and, selecting the target business to consummate our initial business combination with as well as the structuring, negotiation and consummation of the business combination. We anticipate that we will incur approximately:

| ● | $350,000 of legal, accounting and other expenses attendant to the structuring and negotiation of a business combination; |

| ● | $40,000 of third party expenses related to the search for target businesses and the due diligence investigation, structuring and negotiation of our initial business combination; |

| ● | $90,000 of legal and accounting fees related to SEC reporting obligations; |

| ● | $170,000 for director and officer insurance premiums; |

| ● | $240,000 for the payment of the administrative fee to our Sponsor ($20,000 per month for 12 months), subject to deferral as described herein; |

| ● | $60,000 as working capital and reserves (including finders’ fees, consulting fees or other similar compensation, potential deposits, 
 down payments in connection with our initial business combination); and                                                              |
| ● | $70,000 for miscellaneous expenses                                                                                                   |

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If our estimates of the costs of undertaking due diligence and negotiating our initial business combination are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior to our initial business combination. Moreover, we may need to obtain additional financing either to consummate our initial business combination or because we become obligated to redeem a significant number of