Company: QSEA
Filing Date: 2025-02-03
Form Type: DRS/A
Source: 0001829126-25-000616
Chunk: 128

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-03
Form: DRS/A
Chunk 128
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 with activities on our behalf. In addition, at the closing of our initial public offering, our Sponsor will be repaid an aggregate of $500,000 by our Company pursuant to certain promissory note dated November 5, 2024. The principal balance of this promissory note shall be payable on the date on which our Company closes an initial public offering of its securities. The principal balance may be prepaid at any time. These financial interests of our Sponsor, officers, and directors may influence their motivation in identifying and selecting a target business combination and completing an initial business combination.

Members of our management team will allocate their time to other businesses thereby causing conflicts of interest in their determination as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to complete our initial business combination.

The members of our management team are not required
to, and will not, commit their full time to our affairs, which may result in a conflict of interest in allocating their time between
our operations and our search for our initial business combination and their other businesses. Specifically, our Chief Executive Officer
is also the director of Yotta and Quetta, although Yotta has executed a definitive merger agreement with a target company in connection
with its initial business combination. Quetta is still searching for a target. Our director nominee, Daniel M. McCabe, is also the director
of Yotta, Quetta and Black Hawk. We do not intend to have any full-time employees prior to the completion of our initial business combination.
The members of our management team may be engaged in other business endeavors for which they may be entitled to substantial compensation,
and our officers are not obligated to contribute any specific number of hours per week to our affairs. Our directors may also serve as
officers or board members for other entities. If a person’s other business affairs require them to devote substantial amounts of
time to such affairs in excess of their current commitment levels, it could limit their ability to devote time to our affairs which may
have a negative impact on our ability to complete our initial business combination. For further discussion of our officers’ and
directors’ other business affairs, please see the section of this prospectus entitled “Management — Directors and Executive
Officers.”

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Members of our management team and directors may have affiliations with entities engaged in business activities similar to those intended to be conducted by us and accordingly, may have conflicts of interest.

Members of our management team and directors