Company: QSEA
Filing Date: 2025-02-03
Form Type: DRS/A
Source: 0001829126-25-000616
Chunk: 214

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-03
Form: DRS/A
Chunk 214
---
 from the trust account with respect to any founder shares held by them if we fail to complete our initial business combination within 12 months from the consummation of this offering, although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within such time period; and |
| (iii) | if we submit our initial business combination to our public shareholders for a vote, our initial shareholders and each member of our management team have agreed to vote their founder shares and any public shares purchased during or after this offering in the open market in favor of our initial business combination, if permitted by law or regulation. In addition, the founder shares may be registered pursuant to the registration rights agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |

The founder shares are subject to transfer
restrictions pursuant to lock-up provisions in a letter agreement with us to be entered into by our Sponsor, officers and directors.
Those lock-up provisions provide that all the founder shares are not transferable, except to permitted transferees, for a time period
ending on the date that is the earlier of (A) 180 days following the consummation of our initial business combination or (B) the date
on which we complete a liquidation, merger, stock exchange or other similar transaction after our initial business combination that results
in all of our public stockholders having the right to exchange their public shares for cash, securities or other property.

Private Units

The purchasers of the private units have agreed not to transfer any ownership interest in, except to permitted transferees, their private units until 30 days following the completion of the initial business combination. The holders of the private units have also been granted certain registration rights as described elsewhere in this prospectus. Otherwise, the private units have terms and provisions that are identical to the units sold in this offering.

Rights

Public Rights

Except in cases where we are not the surviving company in a business combination, each holder of a right will automatically receive one-tenth (1/10) of one ordinary share upon consummation of our initial business combination, even if the holder of a public right converted all ordinary shares held by him, her or it in connection with the initial business combination or an amendment to our memorandum and articles of association with respect to our pre-initial business combination activities. In the event we will not be the surviving company upon completion of our initial business combination, each holder of a right will be required to affirmatively convert his