Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 239

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 239
---
 ● | a non-resident alien individual (other                                                               
 than certain former citizens and residents of the United States subject to U.S. tax as expatriates); |

| ● | a foreign corporation; or |

| ● | an estate or trust that is not a U.S. 
 Holder;                               |

but generally does not include an individual who
is present in the United States for 183 days or more in the taxable year of disposition. If you are such an individual, you should consult
your tax advisor regarding the U.S. federal income tax consequences of the sale or other disposition of our securities.

Dividends (including constructive distributions treated
as dividends) paid or deemed paid to a Non-U.S. Holder in respect of our ordinary shares generally will not be subject to United States
federal income tax, unless the dividends are effectively connected with the Non-U.S. Holder’s conduct of a trade or business within
the United States (and, if required by an applicable income tax treaty, are attributable to a permanent establishment or fixed base that
such Non-U.S. Holder maintains in the United States). In addition, a Non-U.S. Holder generally will not be subject to United States federal
income tax on any gain attributable to a sale or other disposition of our ordinary shares or rights unless such gain is effectively connected
with its conduct of a trade or business in the United States (and, if required by an applicable income tax treaty, is attributable to
a permanent establishment or fixed base that such Non-U.S. Holder maintains in the United States).

Dividends (including constructive distributions treated
as dividends) and gains that are effectively connected with the Non-U.S. Holder’s conduct of a trade or business in the United
States (and, if required by an applicable income tax treaty, are attributable to a permanent establishment or fixed base in the United
States) generally will be subject to United States federal income tax at the same regular United States federal income tax rates applicable
to a comparable U.S. Holder and, in the case of a Non-U.S. Holder that is a corporation for United States federal income tax purposes,
also may be subject to an additional branch profits tax at a 30% rate or a lower applicable tax treaty rate.

The treatment of the rights to acquire ordinary shares
is uncertain. The rights may be viewed as a forward contract, derivative security or similar interest in our company, and thus the holder
of the rights would not be viewed as owning the ordinary shares issuable pursuant to the