Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 203

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 203
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 each class of share, if any, having preference
over the ordinary shares. Our shareholders have no pre-emptive or other subscription rights. There are no sinking fund provisions applicable
to the ordinary shares, except that we will provide our public shareholders with the opportunity to redeem their public shares for cash
equal to their pro rata share of the aggregate amount then on deposit in the trust account, upon the completion of our initial business
combination, subject to the limitations described herein.

Our Sponsor, officers, and directors will have
entered into a letter agreement with us, pursuant to which they have agreed to waive their rights to participate in any liquidation distribution
from the trust account occurring upon our failure to consummate an initial business combination with respect to the founder shares. Our
Sponsor, officers and directors will therefore not participate in any liquidation distribution from the trust account with respect to
such shares. They will, however, participate in any liquidation distribution from the trust account with respect to any public shares
acquired in, or following, this offering.

Public shareholders will have the right to
sell their public shares to us in any tender offer; to have their public shares redeemed for cash in the amount of their pro rata claim
to the funds held in the trust account in connection with the consummation of the initial business combination; if we hold a shareholder
vote to amend our Post-offering Memorandum and Articles of Association relating to shareholder’s rights or pre-business combination
activity (including the substance or timing within which we have to complete a business combination), we will provide our public shareholders
with the opportunity to redeem their public shares upon approval of any such amendment at a per-share price, payable in cash, equal to
the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously
released to us to pay our taxes (less up to $50,000 of interest to pay liquidation and dissolution expenses), divided by the number of
then outstanding public shares, in connection with any such vote. In either of such events, redeeming shareholders would be paid their
pro rata portion of the trust account promptly following consummation of the business combination or the approval of the amendment to
the Post-offering Memorandum and Articles of Association. If the business combination is not consummated or the amendment is not approved,
then shareholders will not be able to redeem their shares in connection with that specific proxy.

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