Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 204

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 204
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 business combination, if permitted by law or regulation. In addition, the founder shares may be registered pursuant to the registration                                                 
 rights agreement.                                                                                                                                                                       |

The founder shares are subject to transfer restrictions
pursuant to lock-up provisions in a letter agreement with us to be entered into by our Sponsor, officers and directors. Those lock-up
provisions provide that all the founder shares are not transferable, except to permitted transferees, for a time period ending on the
date that is the earlier of (A) 180 days following the consummation of our initial business combination or (B) the date on which we complete
a liquidation, merger, stock exchange or other similar transaction after our initial business combination that results in all of our
public stockholders having the right to exchange their public shares for cash, securities or other property.

Private Units

The purchasers of the private units have agreed not
to transfer any ownership interest in, except to permitted transferees, their private units until 30 days following the completion of
the initial business combination. The holders of the private units have also been granted certain registration rights as described elsewhere
in this prospectus. Otherwise, the private units have terms and provisions that are identical to the units sold in this offering.

Rights

Public Rights

Except in cases where we are not the surviving
company in a business combination, each holder of a right will automatically receive one-fifth (1/5) of one ordinary share upon consummation
of our initial business combination, even if the holder of a public right converted all ordinary shares held by him, her or it in connection
with the initial business combination or an amendment to our memorandum and articles of association with respect to our pre-initial business
combination activities. In the event we will not be the surviving company upon completion of our initial business combination, each holder
of a right will be required to affirmatively convert his, her or its rights in order to receive the one-fifth (1/5) of one ordinary share
underlying each right upon consummation of the business combination. No additional consideration will be required to be paid by a holder
of rights in order to receive his, her or its additional ordinary shares upon consummation of an initial business combination. The ordinary
shares issuable upon conversion of the rights will be freely tradable (except to the extent held by affiliates of ours). If we enter
into a definitive agreement for a business combination in which we will not be the