Company: QSEA
Filing Date: 2025-02-03
Form Type: DRS/A
Source: 0001829126-25-000616
Chunk: 203

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-03
Form: DRS/A
Chunk 203
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 and/or their designees will purchase from us up to an additional 6,750 private units at a price of $10.00 per unit in an amount that is necessary to maintain in the trust account $10.00 per unit sold to the public in this offering. This purchase will occur by way of private placements contemporaneous to the consummation of this offering. The private units are identical to the public units sold in this offering. Additionally, the Sponsor has agreed not to transfer, assign, or sell any of the private units or underlying securities until at least 30 days following the consummation of our initial business combination.

In order to meet our working capital needs following the consummation of this offering, our insiders may, but are not obligated to lend funds to us on a non-interest bearing basis, from time to time or at any time, in whatever amount they deem reasonable in their sole discretion. Each loan would be evidenced by a promissory note. The notes may be repaid either upon consummation of our initial business combination, without interest, or, at the holder’s discretion, up to $1,500,000 of the notes may be converted into private units at a price of $10.00 per unit. If we do not complete a business combination, any outstanding loans from our insiders or their affiliates will be repaid only from amounts not held in our trust account, if any.

Our Sponsor and our Chief Executive Officer are deemed to be our “promoters,” as that term is defined under the federal securities laws.

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<div align='center'>Certain Relationships and Related Party Transactions</div>

On November 5, 2024, our Sponsor purchased 1,725,000 ordinary shares for an aggregate purchase price of $25,000. If the underwriters do not exercise the over-allotment option in full, up to 225,000 ordinary shares shall be forfeited. The number of founder shares issued was determined based on the expectation that the founder shares would represent 20% of the outstanding shares after this offering.

If the underwriters determine that the size of the offering should be increased (including pursuant to Rule 462(b) under the Securities Act) or decreased, a share dividend or a contribution back to the Sponsor, as applicable, would be effectuated in order to maintain its pre-IPO ownership interest at 20% of our issued and outstanding shares after this offering (excluding the private shares and assuming it does not purchase any units