Company: QSEA
Filing Date: 2025-02-24
Form Type: S-1
Source: 0001829126-25-001168
Chunk: 169

Company: Quartzsea Acquisition Corp
Filing Date: 2025-02-24
Form: S-1
Chunk 169
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, we would acquire a 100% controlling interest in the target. However, as a result of the issuance of a substantial number of new shares, our shareholders immediately prior to our initial business combination could own less than a majority of our outstanding shares subsequent to our initial business combination. If less than 100% of the equity interests or assets of a target business or businesses are owned or acquired by the post-transaction company, the portion of such business or businesses that is owned or acquired is what will be valued for purposes of the 80% test.

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Structure of Business Combination

In connection with any proposed business combination,
we will either (1) seek shareholder approval of our initial business combination at a meeting called for such purpose at which public
shareholders (but not our insiders, officers or directors) may seek to redeem 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, or (2) provide our shareholders with the opportunity to sell their shares to us by means of a tender offer (and therefore
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, in each case subject to the limitations described herein. If we determine to engage in a tender offer, such tender offer will
be structured so that each shareholder may tender all of his, her, or its shares rather than some pro rata portion of his, her, or its
shares. The decision as to whether we will seek shareholder approval of a proposed business combination or whether we will allow shareholders
to sell their shares to us in a tender offer will be made by us, solely in our discretion, and will be based on a variety of factors
such as the timing of the transaction and whether the terms of the transaction would otherwise require us to seek shareholder approval.
We anticipate that our business combination could be completed by way of a merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization, or other similar transaction. If we decide to allow shareholders to sell their shares to us in a tender
offer, we will file tender offer documents with the SEC which will contain substantially the same financial and other information about
the initial business combination as is required under the SEC’s proxy rules. If we seek shareholder approval, we will consummate
our initial business