Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 191

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 191
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 is
therefore unenforceable.

<div align='center'>123</div>

<div align='center'>Principal shareholders</div>

The following table sets forth information regarding
the beneficial ownership of our ordinary shares as of the date of this prospectus and upon completion of the sale of our ordinary shares
included in the units offered by this prospectus (assuming none of the individuals listed purchase units in this offering), by:

| ● | each person known by us to be the                                    
 beneficial owner of more than 5% of our outstanding ordinary shares; |

| ● | each of our officers, directors, and 
 director nominees; and               |

| ● | all of our officers, directors and 
 director nominees as a group.      |

Unless otherwise indicated, we believe that all persons
named in the table have voting and investment power with respect to all ordinary shares beneficially owned by them.

On November 5, 2024, our Sponsor purchased
1,725,000 ordinary shares for an aggregate purchase price of $25,000, or approximately $0.0145 per ordinary share. On February 12, 2025,
the Company and the Sponsor entered into the First Amendment to the Subscription Agreement, pursuant to which the purchased amount of
shares was adjusted to 2,415,000 ordinary shares, $0.0104 per ordinary share. The following table presents the number and percentage
of our ordinary shares owned by our initial shareholders before and after this offering. The post-offering numbers and percentages presented
assume that the underwriters do not exercise their over-allotment option, that our Sponsor forfeits an aggregate of 315,000 ordinary
shares and that there are 8,318,250 ordinary shares, consisting of (i) 6,000,000 public shares, (ii) 2,100,000 founder shares, and (iii)
218,250 private shares, issued and outstanding after this offering.

|                                                           |     | Prior to Offering  |           |     |                 |     |   |     | After Offering  |           |    |     |                 |       |   |
| Name and                                                  
 Address of Beneficial Owner(1)                            |     | Amount             
 and                
 Nature of          
 Beneficial         
 Ownership of       
 Ordinary shares(2) |           |     | Approximate     
 Percentage of   
 Outstanding     
 Shares of       
 Ordinary shares |     |   |     | Amount          
 and             
 Nature of       
 Beneficial      
 Ownership of    
 Ordinary shares |           |