Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 208

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 208
---
'>133</div>

Rights

Public Rights

Except in cases where we are not the surviving
company in a business combination, each holder of a right will automatically receive one-fifth (1/5) of one ordinary share upon consummation
of our initial business combination, even if the holder of a public right converted all ordinary shares held by him, her or it in connection
with the initial business combination or an amendment to our memorandum and articles of association with respect to our pre-initial business
combination activities. In the event we will not be the surviving company upon completion of our initial business combination, each holder
of a right will be required to affirmatively convert his, her or its rights in order to receive the one-fifth (1/5) of one ordinary share
underlying each right upon consummation of the business combination. No additional consideration will be required to be paid by a holder
of rights in order to receive his, her or its additional ordinary shares upon consummation of an initial business combination. The ordinary
shares issuable upon conversion of the rights will be freely tradable (except to the extent held by affiliates of ours). If we enter
into a definitive agreement for a business combination in which we will not be the surviving entity, the definitive agreement will provide
for the holders of rights to receive the same consideration per ordinary share into which the rights may be converted as the holders
of the ordinary shares will receive in the transaction on an as-converted into ordinary shares basis.

We will not issue fractional ordinary shares in
connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed
in accordance with Cayman Islands law. As a result, you must hold rights in multiples of five in order to receive ordinary shares for
all of your rights upon closing of a business combination. If we are unable to complete an initial business combination within the required
time period and we liquidate the funds held in 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 our assets held outside of the trust account with respect to such rights. Further,
there are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of an initial business
combination. Additionally, in no event will we be required to net cash settle the rights. Accordingly, the rights may expire worthless.

Our rights will be issued in registered form under
a rights agreement