Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 151

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 151
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 and outstanding ordinary shares upon the consummation of this offering (not including the private shares). The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition subsequent to completion of our initial business combination. The payment of any cash dividends subsequent to our initial business combination will be within the discretion of our board of directors at such time and we will only pay such dividend out of our profits or share premium (subject to solvency requirements) as permitted under Cayman Islands law. Further, if we incur any indebtedness in connection with our initial business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith. The payment of any cash dividends subsequent to our initial business combination will be within the discretion of our board of directors at such time.

<div align='center'>95</div>

<div align='center'>DILUTION</div>

The difference between the public offering price per share of ordinary shares, assuming no value is attributed to the units included in the units we are offering pursuant to this prospectus or the private units, and the pro forma net tangible book value per share of our ordinary shares after this offering constitutes the dilution to investors in this offering. Net tangible book value per share is determined by dividing our net tangible book value, which is our total tangible assets less total liabilities (including the value of ordinary shares which may be redeemed for cash), by the number of issued and outstanding ordinary shares.

As of November 30, 2024, our net tangible
book deficit was $175,166, or approximately $(0.07) per share of ordinary shares. For purposes of the dilution calculation, in order
to present the maximum estimated dilution as a result of this offering, we have assumed (i) the issuance of one-fifth of a share for
each right outstanding, as such issuance will occur upon a business combination without the payment of additional consideration and (ii)
the number of ordinary shares included in the units offered hereby will be deemed to be 7,200,000 ordinary shares (consisting of 6,000,000
ordinary shares included in the units we are offering by this prospectus and 1,200,000 ordinary shares for the outstanding rights), and
the price per share in this offering will be deemed to be $8.33. After giving effect to the sale of 6,000,000 ordinary shares included
in the units we are offering by