Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 209

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 209
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 between Continental Stock Transfer & Trust Company, as rights agent, and us. The rights agreement provides that
the terms of the rights may be amended without the consent of any holder to cure any ambiguity or correct any defective provision. The
rights agreement requires the approval by the holders of at least a majority of the then outstanding rights in order to make any change
that adversely affects the interests of the holders of the rights. Additionally, our rights agreement contains an exclusive forum provision
such that any action, proceeding or claim against us or our rights agent arising out of or relating in any way to the rights agreement
can only be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District
of New York.

Private Rights

The private rights have terms and provisions that
are identical to those of the rights being sold as part of the units in this offering.

The private rights (including the ordinary shares
issuable upon conversion of the rights) will not be transferable, assignable, or salable until 30 days after the completion of our initial
business combination (except as described herein).

Dividends

We have not paid any cash dividends on our ordinary
shares to date and do not intend to pay cash dividends prior to the completion of a business combination. The payment of cash dividends
in the future will be dependent upon our revenues and earnings, if any, capital requirements, and general financial condition subsequent
to completion of a business combination. The payment of any dividends subsequent to a business combination will be within the discretion
of our then board of directors. It is the present intention of our board of directors to retain all earnings, if any, for use in our
business operations and, accordingly, our board does not anticipate declaring any dividends in the foreseeable future.

If we increase the size of the offering, we will
effect a share dividend, 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 shares upon
the consummation of this offering (excluding the private shares and any shares purchased in this offering). Further, if we incur any
indebtedness, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith.

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Our Post-offering Memorandum and Articles of Association

Our Post-offering Memorandum