Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 169

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 169
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 anticipate engaging the services of professional firms or other individuals that specialize in business acquisitions on any formal basis, we may engage these firms or other individuals in the future, in which event we may pay a finder’s fee, consulting fee, or other compensation to be determined in an arm’s length negotiation based on the terms of the transaction. In no event, however, will any of our existing insiders, special advisors or any entity with which they are affiliated, be paid any finder’s fee, consulting fee, or other compensation prior to, or for any services they render in order to effectuate, the consummation of a business combination (regardless of the type of transaction). As of the date of this prospectus, there is no affiliated entity that we consider a business combination target.

In addition, as more fully discussed in “Management — Conflicts of Interest,” if any of our officers or directors becomes aware of a business combination opportunity that falls within the line of business of any entity to which he has pre-existing fiduciary or contractual obligations, he may be required to present such business combination opportunity to such entity prior to presenting such business combination opportunity to us. All of our officers, and directors currently have certain relevant pre-existing fiduciary duties or contractual obligations.

Fair Market Value of Target Business

Pursuant to the rules of the Nasdaq Stock
Market, our initial business combination must occur with one or more target businesses having an aggregate fair market value of at least
80% of the value of the trust account (excluding taxes payable on the income earned on the trust account) at the time of the agreement
to enter into the initial business combination. While the fair market value of the target business must satisfy the 80% test, the consideration
we pay the owners of the target business may be a combination of cash (whether cash from the trust account or cash from a debt or equity
financing transaction that closes concurrently with the business combination) or our equity securities. The exact nature and amount of
consideration would be determined based on negotiations with the target business, although we will attempt to primarily use our equity
as transaction consideration. If we are no longer listed on Nasdaq, we will not be required to satisfy the 80% test and may hold a shareholder
vote to remove this requirement from our Post-offering Memorandum and Articles of Association.

We anticipate structuring our initial business combination so that the post-transaction company in which our public shareholders own shares will own or acquire 100% of the equity interests or