Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 266

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 266
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 Company is an early stage and emerging growth
company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.

As of November 30, 2024, the Company had not
commenced any operations. All activities through November 30, 2024 are related to the Company’s formation and the proposed
initial public offering (“Proposed Public Offering”), which are described below. The Company will not generate any operating
revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating income in the
form of interest income from the proceeds derived from the Proposed Public Offering. The Company has selected November 30 as its
fiscal year end.

The Company’s sponsor is Blue Jay Investment
LLC (the “Sponsor”), a Delaware limited liability company. The Company’s ability to commence operations is contingent
upon obtaining adequate financial resources through a Proposed Public Offering of 6,000,000 units (the “Units” and, with
respect to the shares of Class A ordinary shares included in the Units being offered, the “Public Shares”) at $10.00 per
Unit (or 6,900,000 Units if the underwriters’ over-allotment option is exercised in full), which is discussed in Note 3, and the
sale of 218,250 units (or 225,000 units if the underwriters’ over-allotment option is exercised in full) (the “Private Units”)
at a price of $10.00 per Private Unit in a private placement to the Sponsor that will close simultaneously with the Proposed Public Offering
(see Note 4).

The Company’s management has broad discretion
with respect to the specific application of the net proceeds of the Proposed Public Offering and the sale of the Private Units, although
substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance
that the Company will be able to complete a Business Combination successfully. The Company must complete a Business Combination having
an aggregate fair market value of at least 80% of the assets held in the Trust Account (as defined below) (excluding the deferred underwriting
commissions and taxes payable on interest earned on the Trust Account) at the time of the agreement to enter into an initial Business
Combination. The Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the