Company: QSEA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001829126-25-003185
Chunk: 1

Company: Quartzsea Acquisition Corp
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 1
---
 units on March 19, 2025, no shares were subject to forfeiture.  

The accompanying notes are an integral part of these unaudited condensed financial statements.

1

QUARTZSEA ACQUISITION CORPORATION

UNAUDITED CONDENSED STATEMENT OF OPERATIONS

    For theThree Months endedFebruary 28, 2025

    Formation and operating costs
     
    $
    33,504

    Loss from operations

    (33,504
    )
  
    Interest income

    2,249

    Net loss
     
    $
    (31,255
    )

    Basic and diluted weighted average shares outstanding(1)

    2,520,000

    Basic and diluted net loss per share
     
    $
    (0.012
    )

    (1)
    
        Excludes an aggregate of up to 378,000 shares of ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5). Ordinary shares have been retroactively restated to reflect two amendments to the Subscription Agreement, which allowed the Sponsor to increase the purchase of ordinary shares initially from 1,725,000 to 2,415,000, then to 2,898,000 shares for $25,000, including an aggregate of up to 378,000 ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5).
         
        As a result of the underwriter full exercise of its over-allotment option to purchase 1,080,000 units on March 19, 2025, no shares were subject to forfeiture.  

The accompanying notes are an integral part of these unaudited condensed financial statements.

2

QUARTZSEA ACQUISITION CORPORATION

UNAUDITED CONDENSED STATEMENT OF CHANGES IN SHAREHOLDER’S EQUITY (DEFICIT)

FOR THE THREE MONTHS ENDED FEBRUARY 28, 2025

    Additional

    Total Shareholder’s

    Ordinary Shares

    Paid-in

    Accumulated

    Equity

    Shares(1)

    Amount

    Capital

    Deficit

    (Deficit)

    Balance–November 30, 2024

    2,898,000

    $
    290

    $
    24,710

    $