Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 206

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 206
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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-tenth (1/10) 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-tenth (1/10) 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.

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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 ten 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