Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 146

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 146
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 private units (or 225,000 private units if the underwriters’ over-allotment option is exercised in full) at $10.00 per
private unit for a total purchase price of $2,182,500 (or $2,250,000 if the underwriters’ over-allotment option is exercised in
full) from us. All of the proceeds we receive from these purchases will be placed in the trust account described below. We are not permitted
to use the proceeds placed in the trust account and the interests earned thereon to pay any excise taxes or any other similar fees or
taxes in nature that may be imposed on the Company pursuant to any current, pending or future rules or laws.

$60,000,000, or $69,000,000 if the over-allotment
option is exercised in full, of net proceeds of this offering and the sale of the private units, will be deposited into a United States-based
trust account maintained by Continental Stock Transfer & Trust Company, acting as trustee. The funds held in the trust account will
be held in demand deposit or cash accounts or invested only in United States government treasury bills, bonds, or notes having a maturity
of 185 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the Investment
Company Act of 1940 and that invest solely in U.S. treasuries, so that we are not deemed to be an investment company under the Investment
Company Act. Except with respect to interest earned on the funds held in the trust account that may be released to us to pay our tax
obligations (less up to $50,000 of interest to pay liquidation and dissolution expenses), the proceeds will not be released from the
trust account until the earlier of the completion of our initial business combination or our redemption of public shares in connection
with a business combination or a shareholder vote to amend our Post-offering Memorandum and Articles of Association. The proceeds held
in the trust account may be used as consideration to pay the sellers of a target business with which we complete our initial business
combination to the extent not used to satisfy shareholder redemption requests. Any amounts not paid as consideration to the sellers of
the target business may be used to finance operations of the acquired business.

No compensation of any kind (including finder’s
fees, consulting fees, or other similar compensation) will be paid to our insiders, members of our management team,