Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 158

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 158
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 is exercised in
full), will be placed in the trust account. The balance will be held outside of trust for our use in funding our search process, estimated
to be approximately $1,020,000.

We intend to use substantially all of the
net proceeds of this offering, including the funds held in the trust account, in connection with our initial business combination and
to pay our expenses relating thereto, to pay holders who wish to convert or sell their shares to us for a portion of the funds held in
the trust account, and to pay the deferred underwriting fee of 4.0% of the gross proceeds of the Proposed Public Offering, or $2,400,000
(or $2,760,000 if the over-allotment option is exercised in full), and such deferred fee shall be capped at such amount so remaining
in the Trust Account. To the extent that our ordinary shares are used in whole or in part as consideration to affect our initial business
combination, the remaining proceeds held in the trust account as well as any other net proceeds not expended will be used as working
capital to finance the operations of the target business. Such working capital funds could be used in a variety of ways including the:
continuation or expansion of the operations of the target business; strategic acquisitions and marketing; and, research and development
of existing or new products. Such funds can also be used to repay any operating expenses, finders’ fees, consulting fees or other similar compensation, which we might incur prior to the consummation
of our initial business combination if the funds available to us outside of the trust account are insufficient to cover such expenses.

We believe that, upon the consummation of
this offering, the $1,020,000 held outside of the trust account will be sufficient to allow us to operate for at least the next 18 months,
assuming that a business combination is not consummated during that time. Over this time period, we will use these funds for identifying
and evaluating prospective business combination candidates; performing due diligence of prospective target businesses; traveling to and
from the offices, plants, or similar locations of prospective target businesses; reviewing corporate documents and material agreements
of prospective target businesses; and, selecting the target business to consummate our initial business combination with as well as the
structuring, negotiation and consummation of the business combination. We anticipate that we will incur approximately:

| ● | $350,000 of legal, accounting and other expenses attendant to the structuring