Company: QSEA
Filing Date: 2025-03-12
Form Type: S-1/A
Source: 0001829126-25-001750
Chunk: 206

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-12
Form: S-1/A
Chunk 206
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 in the trust account in connection with the consummation of the initial business combination; if we hold a shareholder
vote to amend our Post-offering 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. In either of such events, redeeming shareholders would be paid their
pro rata portion of the trust account promptly following consummation of the business combination or the approval of the amendment to
the Post-offering Memorandum and Articles of Association. If the business combination is not consummated or the amendment is not approved,
then shareholders will not be able to redeem their shares in connection with that specific proxy.

Founder Shares

The founder shares consist of 2,415,000 ordinary
shares (315,000 of which will be subject to forfeiture if the underwriters do not exercise the over-allotment option).

The founder shares are identical to the public
shares included in the units being sold in this offering, and holders of founder shares have the same shareholder rights as public shareholders,
except that

| (i)   | the founder shares are subject to                                                                                                                                                       
 certain transfer restrictions, as described in more detail below;                                                                                                                       |
| (ii)  | our                                                                                                                                                                                     
 Sponsor, officers, and directors have entered into a letter agreement with us, pursuant to                                                                                              
 which they have agreed (A) to waive their redemption rights with respect to any of their                                                                                                
 founder shares and public shares held by them in connection with the consummation of our                                                                                                
 initial business combination, (B) to waive their redemption rights with respect to their                                                                                                
 founder shares in connection with a shareholder vote to approve an amendment to our Post-offering                                                                                       
 Memorandum and Articles of Association (x) to modify the substance or timing of our obligation                                                                                          
 to allow redemption in connection with our initial business combination or to redeem 100%                                                                                               
 of our public shares if we do not complete our initial business combination