Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 170

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 170
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 combination only if we seek shareholder approval, we obtain the approval of an ordinary resolution under Cayman
Islands law, which requires the affirmative vote of a majority of the outstanding ordinary shares voted at the meeting so long as the
minimum number of shareholders required for a quorum attend the meeting (whether in person or by proxy).

We will have up to 18 months from the consummation
of this offering to consummate an initial business combination. If we are unable to consummate an initial business combination within
such time period, we will redeem 100% of our issued and outstanding public shares for a pro rata portion of the funds held in the trust
account, 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, subject to applicable law and as further described herein, and then seek to
liquidate and dissolve. We expect the pro rata redemption price to be approximately $10.05 per public share (regardless of whether or
not the underwriters exercise their over-allotment option), without taking into account any interest earned on such funds. However, we
cannot assure you that we will in fact be able to distribute such amounts as a result of claims of creditors which may take priority
over the claims of our public shareholders.

Redemption Rights

At any meeting called to approve an initial
business combination, any public shareholder, whether voting for or against such proposed business combination or not voting at all,
will be entitled to demand that its public shares be redeemed for a full pro-rata portion of the amount then in the trust account (initially
$10.05 per public share), plus any pro rata 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). Alternatively, we may provide our public
shareholders with the opportunity to sell their public shares to us through a tender offer (and thereby avoid the need for a shareholder
vote) for an amount equal to their pro rata share of the aggregate amount then on deposit in the trust account, net of taxes payable.

Notwithstanding the foregoing, a public shareholder, together with any affiliate of his or hers or any other person with whom he or she