Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 192

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 192
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 Blue Jay Investment LLC.                                                               |
| (5) | Represents the shares owned by Blue Jay Investment LLC, a Delaware limited liability company, which is controlled by Ms. Gong.                               |

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Immediately after this offering, our initial shareholders
will beneficially own 35% of the then-issued and outstanding ordinary shares (excluding the private shares and assuming they do not purchase
any public units in this offering). If we increase or decrease the size of the offering, we will effect a share dividend or a share contribution
back to capital or other appropriate mechanism, as applicable, with respect to our founder shares immediately prior to the consummation
of the offering in such amount as to maintain the ownership of our initial shareholders at 35% of our issued and outstanding ordinary
shares upon the consummation of this offering (excluding the private shares and assuming they do not purchase any public units in this
offering). Because of this ownership block, our initial shareholders may be able to effectively influence the outcome of all matters
requiring approval by our shareholders, including the election of directors, amendments to our memorandum and articles of association
and approval of significant corporate transactions, including approval of our initial business combination.

Our Sponsor has committed to purchase an aggregate
of 218,250 private units at $10.00 per private unit for a total purchase price of $2,182,500 from us. Our Sponsor has also agreed that
if the over-allotment option is exercised by the underwriters in full or in part, they and/or their designees will purchase from us up
to an additional 6,750 private units at a price of $10.00 per unit in an amount that is necessary to maintain in the trust account $10.00
per unit sold to the public in this offering. This purchase will occur by way of private placements contemporaneous to the consummation
of this offering. The private units are identical to the public units sold in this offering. Additionally, the Sponsor has agreed not
to transfer, assign, or sell any of the private units or underlying securities until at least 30 days following the consummation of our
initial business combination.

In order to meet our working capital needs following
the consummation of this offering, our insiders may, but are not obligated to lend funds to us on a non-interest bearing basis, from
time to time or at any time, in whatever amount they deem reasonable in their sole discretion. Each loan would