Company: QSEA
Filing Date: 2025-03-20
Form Type: 8-K
Source: 0001829126-25-001935
Chunk: 2

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-20
Form: 8-K
Item: Item 3.02
Chunk 2
---
Item 3.02 Unregistered Sales of Equity Securities.

Simultaneously with the consummation
of the IPO and the sale of the Units, the Company consummated the private placement (the “ Private Placement”) of 231,900 Units
(the “ Placement Units”), each Placement Unit consisting of one Ordinary Share and one Right, to the Sponsor at a price of
$10.00 per Placement Unit, generating total proceeds of $2,319,000. The Placement Units (and the underlying securities) are identical
to the Units sold in the IPO and the OA Option, except as otherwise disclosed in the Registration Statement. No underwriting discounts
or commissions were paid with respect to such sale. The issuance of the Placement Units was made pursuant to the exemption from registration
contained in Section 4(a)(2) of the Securities Act of 1933, as amended.

Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 14, 2025, in connection
with the IPO, Wei (Victor) Zhang, Daniel M. McCabe and Ping Zhang (collectively, the “ Directors”)
were appointed to the board of directors of the Company (the “ Board”). Effective
March 14, 2025, each of Wei (Victor) Zhang, Daniel McCabe and Ping Zhang were also appointed to the Board’s Audit Committee and
Compensation Committee.

The directors will be
reimbursed for any out-of-pocket expenses incurred in connection with activities on the Company’s behalf such as identifying potential
target businesses and performing due diligence on suitable business combinations.

Other than the foregoing,
none of the Directors is party to any arrangement or understanding with any person pursuant to which they were appointed as directors,
nor is any Director party to any transaction required to be disclosed under Item 404(a) of Regulation S-K involving the Company.

Item 5.03 Amendments to Articles of Incorporation or Bylaws.