Company: QSEA
Filing Date: 2025-03-11
Form Type: S-1/A
Source: 0001829126-25-001676
Chunk: 44

Company: Quartzsea Acquisition Corp
Filing Date: 2025-03-11
Form: S-1/A
Chunk 44
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 otherwise described in this prospectus, the proceeds held in the trust account will not be released  
 until the earlier of the completion of an initial business combination and our redemption of 100% of the outstanding public shares       
 if we have not completed a business combination in the required time period. Therefore, unless and until an initial business combination 
 is consummated, the proceeds held in the trust account will not be available for our use for any expenses related to this offering       
 or expenses which we may incur related to the investigation and selection of a target business and the negotiation of an agreement       
 to acquire a target business.                                                                                                            |

| Liquidation                
 if no business combination |     | If we cannot complete                                                                                                                     
 our initial business combination within the Combination Period, we will (i) cease all operations except for the purpose of winding        
 up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, subject to lawfully available funds therefor, 
 redeem 100% of the outstanding public shares for a pro rata portion of the funds held in the trust account (initially $10.00 per          
 public share), plus a pro rata portion of any 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), which redemption will completely     
 extinguish public shareholders’ rights as shareholders (including the right to receive further liquidation distributions, if              
 any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval          
 of our remaining holders of ordinary shares and our board of directors, dissolve and liquidate, subject (in the case of (ii) and          
 (iii) above) to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable      
 law. At such time, the rights will expire and holders of the rights will receive nothing upon a liquidation with respect to such          
 rights, and the rights will be worthless.                                                                                                 |

| In connection with                                                                                                                   
 our redemption of 100% of our outstanding public shares, each holder will receive an amount equal to (1) the number of public shares 
 being redeemed by such public holder divided by the total number of public shares multiplied by (2) the amount then in the trust     
 account (initially $10.00 per public share), plus a pro rata portion of any interest earned on the funds held