Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 152

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 152
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 this prospectus (or 6,900,000 ordinary shares if the underwriters’ over-allotment option is exercised
in full) and assuming the issuance of 1,200,000 ordinary shares upon the conversion of the rights included in the units (or 1,380,000
ordinary shares if the underwriters’ over-allotment option is exercised in full)), the sale of the private units and estimated
expenses of this offering, our pro forma net tangible book deficit at November 30, 2024, would have been $1,415,696 or $(0.40) per share
(or $1,692,666 or $(0.42) per share if the underwriters’ over-allotment option is exercised in full), representing an immediate
decrease in net tangible book value of $0.33 per share (or $0.35 per share if the underwriters’ over-allotment option is exercised
in full) to the initial shareholders and an immediate dilution of 104.8% per share or $8.73 (or 105.0% or $8.75 per share if the underwriters’
over-allotment option is exercised in full) to new investors not exercising their conversion/tender rights.

|                                             |     | Without Over-allotment |       |   |     | With Over-allotment |       |   |
|:--------------------------------------------|:----|:-----------------------|------:|:--|:----|:--------------------|------:|:--|
| Public                                      
 offering price                              |     | $                      |  8.33 |   |     | $                   |  8.33 |   |
| Net tangible book value before              
 this offering                               |     | $                      | (0.07 | ) |     | $                   | (0.07 | ) |
| Decrease                                    
 attributable to initial shareholders        |     | $                      | (0.33 | ) |     | $                   | (0.35 | ) |
| Pro forma                                   
 net tangible book value after this offering |     | $                      | (0.40 | ) |     | $                   | (0.42 | ) |
| Dilution                                    
 to public shareholders                      |     | $                      |  8.73 |   |     | $                   |  8.75 |   |
| Percentage                                  
 of dilution to public shareholders          |     |                        | 104.