Company: QSEA
Filing Date: 2025-02-03
Form Type: DRS/A
Source: 0001829126-25-000616
Chunk: 63

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-03
Form: DRS/A
Chunk 63
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RC or Hong Kong company with operations being based in or having the majority of its operations in China, the PRC regulation on loans to, and direct investment in, our PRC subsidiary by offshore holding companies and governmental control in currency conversion may restrict our ability to make loans to or capital contributions to our PRC subsidiary, which could materially and adversely affect our liquidity and our ability to fund and expand our business post-business combination. See “Risk Factors — Risks Relating to Our Search for, Consummation of, or Inability to Consummate, a Business Combination and Post-Business Combination Risks — If our initial business combination target is a PRC or Hong Kong company with operations being based in or having the majority of its operations in China, the PRC regulation on loans to, and direct investment in, our PRC subsidiary by offshore holding companies and governmental control in currency conversion may restrict our ability to make loans to or capital contributions to our PRC subsidiary, which could materially and adversely affect our liquidity and our ability to fund and expand our business post-business combination” for more information. |

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Summary Financial Data The following table summarizes the relevant financial data for our business and should be read with our financial statements, which are included in this prospectus. We have not had any significant operations to date, so only balance sheet data is presented.

|                                                                   |     | November 30, 
 2024         |          |   |     |          |            |   |
|:------------------------------------------------------------------|:----|:-------------|---------:|:--|:----|:---------|-----------:|:--|
|                                                                   |     | Actual       |          |   |     | As       
 Adjusted |            |   |
| Balance Sheet Data:                                               |     |              |          |   |     |          |            |   |
| Working capital (deficit)(1)                                      |     | $            | (175,166 | ) |     | $        |  1,034,834 |   |
| Total assets(2)                                                   |     | $            |  516,000 |   |     | $        | 61,034,834 |   |
| Total liabilities                                                 |     | $            |  501,166 |   |     | $        |  2,483,030 |   |
| Value of ordinary shares subject to possible redemption/tender(3) |     | $            |        - |   |