Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 177

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 177
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 redemption or conversion
amount received by public shareholders may be less than $10.00.

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If, after we distribute the proceeds in the trust account to our public shareholders, we file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, any distributions received by shareholders could be viewed under applicable debtor-creditor and/or bankruptcy laws as either a “preferential transfer” or a “fraudulent conveyance.” As a result, a bankruptcy court could seek to recover all amounts received by our shareholders. In addition, our board of directors may be deemed as having breached its fiduciary duty to our creditors and/or having acted in bad faith, thereby exposing itself and us to claims of punitive damages, by paying public shareholders from the trust account prior to addressing the claims of creditors. Claims may be brought against us for these reasons.

Post-offering Memorandum and Articles of Association

Our Post-offering Memorandum and Articles
of Association to be adopted with effect from the effectiveness of this prospectus will contain certain requirements and restrictions
relating to this offering that will apply to us until the consummation of our initial business combination. If we hold a shareholder
vote to amend any provisions of our Post-offering Memorandum and Articles of Association relating to shareholder’s rights or pre-business
combination activity (including the substance or timing within which we have to complete a business combination), we will provide our
public shareholders with the opportunity to redeem their public shares upon approval of any such amendment at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust
account and not previously released to us to pay our taxes (less up to $50,000 of interest to pay liquidation and dissolution expenses),
divided by the number of then outstanding public shares, in connection with any such vote. Our insiders have agreed to waive any conversion
rights with respect to any founder shares, private shares and any public shares they may hold in connection with any vote to amend our
Post-offering Memorandum and Articles of Association. Specifically, our Post-offering Memorandum and Articles of Association provides,
among other things, that:

| ● | prior to the consummation of our initial business                                                                                      
 combination, we shall either (1) seek shareholder approval of our initial business combination at a meeting called for such purpose    
 at which public shareholders may seek to convert their public share, regardless of