Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 81

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 81
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 States, such as broadcasters and airlines, may be subject to rules or regulations that limit foreign ownership.

CFIUS is an interagency committee authorized to review certain transactions involving foreign investment in the United States by foreign persons in order to determine the effect of such transactions on the national security of the United States. Whether CFIUS has jurisdiction to review an acquisition or investment transaction depends on, among other factors, the nature and structure of the transaction, including the level of beneficial ownership interest and the nature of any information or governance rights involved. For example, investments that result in “control” of a “U.S. business” by a “foreign person” (in each case, as such terms are defined in 31 C.F.R. Part 800) that might be considered by CFIUS to be a covered transaction that CFIUS would have authority to review

Our sponsor, Blue Jay Investment LLC, is currently controlled by Ms. Qi Gong, a United States’ resident who is the manager of Blue Jay Investment LLC. As of the date of this prospectus, our Sponsor is not a foreign person as such terms are defined in 31 C.F.R. Part 800. If we seek or receive investments from a non-U.S. investor, and the terms of such investment may confer such rights, authorities or votes that could result in “control” by such non-U.S. investors as defined under 31 C.F.R. Section 800.208 among other parts, we could potentially be subject to such foreign ownership restrictions and/or CFIUS review.

Based on our preliminary analysis, we do not anticipate that Ms. Qi Gong would be considered a “non-U.S. person,” for purposes of CFIUS review. Ms. Qi Gong is a permanent resident of the United States and a Chinese foreign national. Under CFIUS rules and regulations, as defined in 31 C.F.R. § 800.224, a “foreign person” (commonly referred to as a “non-U.S. person”) is defined as (1) any foreign national, foreign government, or foreign entity; or (2) any entity over which control is exercised or exercisable by a foreign national, foreign government, or foreign entity. Furthermore, 31 C.F.R. § 800.220(a) provides that a "foreign national" includes any individual who is not a U.S. citizen or lawful permanent resident of the United States.

In this case, Ms. Gong is a lawful permanent resident of the United States.