Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 239

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 239
---
 pursuant to the rights until such ordinary shares are actually
issued. There may be other alternative characterizations of the rights that the IRS may successfully assert, including that the rights
are treated as equity in our company at the time the rights are issued. The tax consequences of an acquisition of our ordinary shares
pursuant to rights are unclear and will depend on the treatment of any initial business combination. Accordingly, Non-U.S. Holders should
consult their tax advisors regarding the tax consequences of an acquisition of ordinary shares pursuant to rights and the consequences
of any initial business combination.

<div align='center'>150</div>

Information Reporting and Backup Withholding

Dividend payments (including constructive dividends)
with respect to our ordinary shares and proceeds from the sale, exchange or redemption of ordinary shares or rights may be subject to
information reporting to the IRS and possible United States backup withholding. Backup withholding will not apply, however, to payments
made to a U.S. Holder who furnishes a correct taxpayer identification number and makes other required certifications, or who is otherwise
exempt from backup withholding and establishes such exempt status. Payments made to a Non-U.S. Holder generally will not be subject to
backup withholding if the Non-U.S. Holder provides certification of its foreign status, under penalties of perjury, on a duly executed
applicable IRS Form W-8 or by otherwise establishing an exemption.

Backup withholding is not an additional tax. Amounts
withheld under the backup withholding rules may be credited against a holder’s U.S. federal income tax liability, and a holder
generally may obtain a refund of any excess amounts withheld by timely filing the appropriate claim for refund with the IRS and furnishing
any required information. All holders should consult their tax advisors regarding the application of information reporting and backup
withholding to them.

FATCA Withholding Taxes

Sections 1471 through 1474 of the Code and the
Treasury Regulations and administrative guidance promulgated thereunder (commonly referred to as the “Foreign Account Tax Compliance
Act” or “FATCA”) generally impose withholding of 30% in certain circumstances on payments of dividends (including constructive
dividends) and, subject to the proposed Treasury Regulations discussed below, on proceeds from sales or other disposition of our securities
paid to “foreign financial institutions” (which is broadly defined for this purpose and includes investment vehicles) and
certain other non-U.S. entities unless various U.S. information reporting and due diligence requirements (relating