Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 147

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 147
---
 or any of our or
their respective affiliates, for services rendered to us prior to or in connection with the consummation of our initial business combination
(regardless of the type or form of transaction). On November 5, 2024, the Company and the Sponsor entered into an Administrative
Services Agreement, commencing on the effective date of the registration statement of the initial public offering through the earlier
of our consummation of a business combination or the Company’s liquidation, pursuant to which the Company will pay the Sponsor
a total of $20,000 per month for office space, administrative and support services. On February 12, 2025, the Company and the Sponsor
entered into the First Amendment to the Administrative Services Agreement, pursuant to which the monthly fee was amended to $15,000.
On March 7, 2025, the Company and the Sponsor entered into the Second Amendment to the Administrative Services Agreement, pursuant to
which the monthly fee was amended to $20,000. Since the role of present management after our initial business combination is uncertain,
we have no ability to determine what remuneration, if any, will be paid to those persons after our initial business combination.

The net proceeds from this offering and the
private sale of units to the Sponsor that will be available to us out of trust for our working capital requirements in searching for
our initial business combination will be approximately $1,052,500. This is in addition to the $500,000 loan made to us by our Sponsor
pursuant to a promissory note dated November 5, 2024. The principal balance of this promissory note shall be payable the date on
which we close this offering. The allocation of the net proceeds available to us outside of the trust account represents our best estimate
of the intended uses of these funds. In the event that our assumptions prove to be inaccurate, we may reallocate some of such proceeds
within the above-described categories. If our estimate of the costs of undertaking due diligence and negotiating our initial business
combination is less than the actual amount necessary to do so, we may be required to raise additional capital, the amount, availability,
and cost of which is currently unascertainable. In this event, we could seek such additional capital through loans or additional investments
from our insiders, members of our management team, or third parties, but our insiders, members of our management team, or third parties
are not under any obligation to advance funds, or