Quartzsea Acquisition Corp (NASDAQ: QSEA) is a blank check company incorporated on November 5, 2024, as a Cayman Islands exempted corporation formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more target businesses. The company generates no operating revenue. It holds IPO proceeds in a trust account and deploys capital upon closing an initial business combination. Quartzsea completed its IPO on March 19, 2025, raising gross proceeds that included full exercise of a 1,080,000-unit over-allotment option, with total cash underwriting discounts of $586,500 and a deferred underwriting fee of $3,312,000 payable upon a business combination (per the 10-K filed 2026-03-16). The company has 15 months from IPO closing to consummate a business combination, with extension options available at $0.10 per public share per extension period. Auditors have issued a going concern qualification as of November 30, 2025, citing a significant working capital deficiency and operating losses. CEO, CFO, and Chairwoman Qi Gong has held all three roles since the company's formation. Sponsor is Blue Jay Investment LLC, a Delaware limited liability company affiliated with Ms. Gong.

Revenue model

No operating revenue. The company is a pre-combination SPAC. Economics are structured around IPO proceeds held in trust, with a deferred underwriting fee of $3,312,000 payable to SPAC Advisory Partners upon successful business combination close (per 10-K filed 2026-03-16).

Products and services

Blank check acquisition vehicle seeking an initial business combination with one or more target businesses. No products or commercial services as of November 30, 2025.

Customers and end markets

No commercial customers or end markets. The company's counterparties are public shareholders and the sponsor, Blue Jay Investment LLC. Target business sector or end market has not been specified in the filing excerpts.

Value-chain role

SPAC sponsor vehicle. Raises capital through public equity markets, holds proceeds in trust, and deploys capital via acquisition of a target business.

Geographic exposure

Incorporated in the Cayman Islands. Listed on Nasdaq. Sponsor (Blue Jay Investment LLC) is a Delaware limited liability company. No operating geographic footprint disclosed as of November 30, 2025.

Source: SEC 10-K, filed 2026-03-16

Industry: Blank Checks