Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 278

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 278
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 the Trust Account, holders of rights will not receive any
of such funds with respect to their rights, nor will they receive any distribution from the Company’s assets held outside of the
Trust Account with respect to such rights, and the rights will expire worthless. Further, there are no contractual penalties for failure
to deliver securities to the holders of the rights upon consummation of a Business Combination. Additionally, in no event will the Company
be required to net cash settle the rights. Accordingly, holders of the rights might not receive the shares of ordinary shares underlying
the rights.

<div align='center'>F-15</div>

<div align='center'>QUARTZSEA ACQUISITION CORPORATION

NOTES TO FINANCIAL STATEMENTS</div>

Note 8 — Subsequent Events

The Company evaluated subsequent events and transactions
that occurred after the balance sheet date and up to December 23, 2024, the date that the financial statements were issued. Based
on the review, management did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

Note 9 — Other Subsequent Events

On February 12, 2025, the Company modified the following key terms of the Proposed Public Offering to:

| 1) | Increase                                                                                        
 the number of month to consummate its initial business combination from 12 months to 18 months; |

| 2) | Increase                                                                                        
 the initial amount to be held in the trust account from $10.00 per unit to $10.05 per unit; and |

| 3) | Increase                                                                                                                             
 the number of Private Placement Units to be purchased by the Sponsor from 215,000 units (or 221,750 units if the underwriters’       
 over-allotment option is exercised in full) to 245,000 units (or 256,250 units if the over-allotment option is exercised in full)    
 at a price of $10.00 per unit for an aggregate purchase price of $2,415,000 (or $2,562,500 if the over-allotment option is exercised 
 in full).                                                                                                                            |

On February 12, 2025, the Company and the Sponsor
entered into the First Amendment to the Subscription Agreement, pursuant to which the purchased amount of shares was adjusted to 2,415,000
ordinary shares, $0.0104 per ordinary share.

On February 12, 2025, the Company and the Sponsor
entered into