Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 176

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 176
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 our initial business combination. If we hold a shareholder vote to amend any
provisions of our 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 Memorandum and Articles
of Association. Specifically, our 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 whether they vote for or against, or abstain from   
 voting on, the proposed business combination, into a portion of the aggregate amount then on deposit in the trust account, net of      
 taxes payable, or (2) provide our shareholders with the opportunity to sell their shares to us by means of 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, in each case subject to the limitations described herein;                                         |

| ● | we will consummate our initial business combination only if a majority                                                                
 of the outstanding ordinary shares voted are voted in favor of the business combination so long as the minimum number of shareholders 
 required for a quorum attend the meeting (whether in person or by proxy);                                                             |

| ● | if our initial business combination is not consummated                                                                           
 within 18 months from the consummation of this offering, then our existence will terminate and we will distribute all amounts in 
 the trust account to all of our public holders of public shares;                                                                 |

| ● | upon the consummation of this offering, $60,300