Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 27

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 27
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 such period, we may seek shareholder approval to amend our Post-offering
Memorandum and Articles of Association to extend the date by which we must consummate our initial business combination. If we seek shareholder
approval for an extension, our public shareholders will be offered an opportunity to redeem their shares at a per share price, payable
in cash, equal to the aggregate amount then on deposit in the trust account, including interest (net of taxes payable), divided by the
number of then issued and outstanding public shares, subject to applicable laws. There is no limit on the number of extensions that we
may seek. If we determine not to extend, or fail to obtain shareholder approval to extend, the time period to consummate our initial
business combination, and the time to consummate our initial business combination expires, our Sponsor’s investment in our founder
shares and our private units will be worthless.

If we are unable to consummate our initial
business combination within such time period, we will, as promptly as possible but not more than ten (10) business days thereafter, redeem
100% of our outstanding public shares for a pro rata portion of the funds held in the trust account, including a pro rata portion of
any interest earned on the funds held in the trust account and not previously released to us to pay our taxes (less up to $50,000 of
interest to pay liquidation and dissolution expenses), and then seek to liquidate and dissolve. However, we may not be able to distribute
such amounts as a result of claims of creditors which may take priority over the claims of our public shareholders. In the event of our
liquidation and subsequent dissolution, the public and private rights will expire and will be worthless.

Pursuant to Nasdaq listing rules, our initial business combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of the assets held in the trust account (excluding taxes payable) at the time of the agreement to enter into the initial business combination.

We will either (1) seek shareholder approval of our initial business combination at a meeting called for such purpose, at which shareholders may seek to redeem their shares, regardless of whether they vote for or against, or abstain from voting on, the proposed business combination, for their pro rata share of the aggregate amount then on deposit in the trust account (net of taxes payable), or (2) provide our shareholders with the opportunity to sell their shares to us by means of a tender