Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 263

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 263
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 $10.00 per Private Unit in a private placement to the Sponsor that will close simultaneously with the Proposed Public Offering
(see Note 4).

The Company’s management has broad discretion
with respect to the specific application of the net proceeds of the Proposed Public Offering and the sale of the Private Units, although
substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance
that the Company will be able to complete a Business Combination successfully. The Company must complete a Business Combination having
an aggregate fair market value of at least 80% of the assets held in the Trust Account (as defined below) (excluding the deferred underwriting
commissions and taxes payable on interest earned on the Trust Account) at the time of the agreement to enter into an initial Business
Combination. The Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the
outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required
to register as an investment company under the Investment Company Act 1940, as amended (the “Investment Company Act”). Upon
the closing of the Proposed Public Offering, management has agreed that an amount equal to at least $10.00 per Unit sold in the Proposed
Public Offering, including the proceeds from the sale of the Private Units, net of the underwriters’ fees and expenses described
herein and other accountable expenses, will be placed in the Trust Fund and will be invested only in U.S. government treasury bills,
bonds or notes with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the
Investment Company Act of 1940 and which invest solely in U.S. Treasuries. The Trust Fund will be deposited into a trust account (“Trust
Account”) in the U.S. to be released only in the event of either: (i) the consummation of a Business Combination or (ii) the Company’s
failure to complete a Business Combination within the applicable period of time.

The Company will provide its holders of the outstanding
Public Shares (the “Public shareholders”) with the opportunity to redeem all or a portion of their Public Shares upon the
completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or
(ii) by means of a tender offer. The decision