Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 158

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 158
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 working capital and reserves (including potential deposits,                                                 
 finders’ fees, consulting fees or other similar compensation and down payments in connection with our initial business 
 combination); and                                                                                                      |
| ● | $42,500 for miscellaneous expenses                                                                                     |

<div align='center'>100</div>

If our estimates of the costs of undertaking due diligence and negotiating our initial business combination are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business prior to our initial business combination. Moreover, we may need to obtain additional financing either to consummate our initial business combination or because we become obligated to redeem a significant number of our public shares upon consummation of our initial business combination, in which case we may issue additional securities or incur debt in connection with such business combination. Subject to compliance with applicable securities laws, we would only consummate such financing simultaneously with the consummation of our initial business combination; provided, however, that our insiders may, but are not obligated to, lend us funds as needed. Following our initial business combination, if our available cash is insufficient, we may need to obtain additional financing in order to meet our obligations.

Related Party Transactions

On November 5, 2024, in exchange for an aggregate
purchase price of $25,000, our Sponsor purchased 1,725,000 ordinary shares, 225,000 of which are subject to forfeiture. On February 12,
2025, the Company and the Sponsor entered into the First Amendment to the Subscription Agreement, pursuant to which the purchased amount
of shares was adjusted to 2,415,000 ordinary shares, $0.0104 per ordinary share, of which 315,000 are subject to forfeiture.

On November 5, 2024, we entered into a promissory
note of an aggregate of $500,000 with our Sponsor. The loan will be payable without interest on the earlier of the consummation of this
offering, or the liquidation of the Company. If the offering is consummated, the loan will be repaid out of the proceeds of this offering
not being placed in trust.

We are obligated, commencing on the date of
this prospectus, to pay our Sponsor a monthly fee of $20,000 for general and administrative services.

We do not believe that we will need to raise additional funds following this offering in order to meet the expenditures required for operating our business. However, in order to finance transaction costs in connection with an intended