Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 127

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 127
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 merchant bank or a private equity fund), we intend to avoid
being deemed an “investment company” within the meaning of the Investment Company Act. The trust account is intended as a
holding place for funds pending the earliest to occur of: (i) the completion of our initial business combination (including any redemptions
made in connection therewith); (ii) the redemption of any of the public shares issued in this offering that are properly submitted in
connection with a shareholder vote to amend our Memorandum and Articles of Association (A) to modify the substance or timing of our obligation
to allow redemptions in connection with our initial business combination, (B) to modify the substance or timing of our obligation to
redeem 100% of the public shares issued in this offering if we do not complete our initial business combination within the 18 months
from the consummation of this offering, or (C) with respect to any other provision relating to shareholders’ rights or pre-initial
business combination activity; or (iii) absent a business combination within prescribed time periods our return of the funds held in
the trust account to our public shareholders by redeeming their public share. Thus this offering is not intended for persons who are
seeking a return on investments in government securities or investment securities.

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If we do not invest the proceeds as discussed
above, we may be deemed to be subject to the Investment Company Act. In such a scenario, compliance with these additional regulations
would require additional expenses for which we have not allotted funds and may hinder our ability to complete our initial business combination
or result in our liquidation. If we are unable to complete our initial business combination, our public shareholders may receive only
approximately $10.05 per public share, or less in certain circumstances, upon the liquidation of our trust account.

Notwithstanding that we have limited our activities as described above, we could nevertheless be considered to be operating as an unregistered investment company. If we were deemed to be an investment company for purposes of the Investment Company Act, we would need to register as such under the Investment Company Act and compliance with these additional regulatory burdens would require additional expenses for which we have not allotted funds and may hinder our ability to complete a business combination. We may also be forced to abandon our efforts to complete an initial business combination, and instead be required to liquidate the trust account and may be required to change our operations or wind down our operations. In which case, our investors