Quartzsea Acquisition Corporation Announces Pricing of $72,000,000 Upsized Initial Public Offering
Quartzsea Acquisition (NASDAQ: QSEA) has announced the pricing of its upsized initial public offering (IPO) at $72 million. The company is offering 7,200,000 units priced at $10.00 per unit, with trading expected to commence on March 18, 2025, under the symbol 'QSEAU' on the Nasdaq Global Market.
Each unit comprises one ordinary share and one right, where each whole right allows holders to receive one-fifth of an ordinary share upon completing an initial business combination. The ordinary shares and rights will trade separately under 'QSEA' and 'QSEAR' respectively.
SPAC Advisory Partners, a division of Kingswood Capital Partners, , is serving as the sole book-running manager. Underwriters have a 45-day option to purchase up to 1,080,000 additional units for over-allotments. The offering is set to close on March 19, 2025, pending customary conditions.
Quartzsea Acquisition (NASDAQ: QSEA) ha annunciato il prezzo della sua offerta pubblica iniziale (IPO) aumentata a 72 milioni di dollari. L'azienda offre 7.200.000 unità al prezzo di 10,00 dollari per unità, con l'inizio delle contrattazioni previsto per il 18 marzo 2025, sotto il simbolo 'QSEAU' sul Nasdaq Global Market.
Ogni unità è composta da un'azione ordinaria e un diritto, dove ogni diritto intero consente ai possessori di ricevere un quinto di un'azione ordinaria al completamento di una combinazione aziendale iniziale. Le azioni ordinarie e i diritti saranno negoziati separatamente sotto 'QSEA' e 'QSEAR' rispettivamente.
SPAC Advisory Partners, una divisione di Kingswood Capital Partners, funge da unico manager di book-running. Gli underwriter hanno un'opzione di 45 giorni per acquistare fino a 1.080.000 unità aggiuntive per sovra-allocazioni. L'offerta dovrebbe chiudersi il 19 marzo 2025, in attesa delle condizioni abituali.
Quartzsea Acquisition (NASDAQ: QSEA) ha anunciado el precio de su oferta pública inicial (IPO) ampliada de 72 millones de dólares. La compañía está ofreciendo 7,200,000 unidades a un precio de 10,00 dólares por unidad, y se espera que las operaciones comiencen el 18 de marzo de 2025, bajo el símbolo 'QSEAU' en el Nasdaq Global Market.
Cada unidad consta de una acción ordinaria y un derecho, donde cada derecho completo permite a los titulares recibir un quinto de una acción ordinaria al completar una combinación empresarial inicial. Las acciones ordinarias y los derechos se negociarán por separado bajo 'QSEA' y 'QSEAR', respectivamente.
SPAC Advisory Partners, una división de Kingswood Capital Partners, actúa como el único gerente de book-running. Los suscriptores tienen una opción de 45 días para comprar hasta 1,080,000 unidades adicionales para sobreasignaciones. Se espera que la oferta cierre el 19 de marzo de 2025, sujeto a condiciones habituales.
Quartzsea Acquisition (NASDAQ: QSEA)는 7,200만 달러로 증액된 초기 공모(IPO) 가격을 발표했습니다. 회사는 주당 10.00달러에 7,200,000 단위를 제공하며, 거래는 2025년 3월 18일 'QSEAU'라는 기호로 Nasdaq Global Market에서 시작될 것으로 예상됩니다.
각 단위는 하나의 보통주와 하나의 권리로 구성되며, 각 전체 권리는 초기 사업 조합 완료 시 보통주 1/5를 수령할 수 있도록 허용합니다. 보통주와 권리는 각각 'QSEA'와 'QSEAR'로 별도로 거래됩니다.
SPAC Advisory Partners는 Kingswood Capital Partners의 부서로서 유일한 북런닝 매니저로 활동하고 있습니다. 인수자는 추가 배정을 위해 최대 1,080,000개의 추가 단위를 구매할 수 있는 45일 옵션을 가지고 있습니다. 이 제안은 일반적인 조건이 충족될 경우 2025년 3월 19일에 마감될 예정입니다.
Quartzsea Acquisition (NASDAQ: QSEA) a annoncé le prix de son offre publique initiale (IPO) augmentée à 72 millions de dollars. La société propose 7 200 000 unités au prix de 10,00 dollars par unité, avec un début de négociation prévu le 18 mars 2025, sous le symbole 'QSEAU' sur le Nasdaq Global Market.
Chaque unité se compose d'une action ordinaire et d'un droit, où chaque droit entier permet aux titulaires de recevoir un cinquième d'une action ordinaire après avoir complété une combinaison d'affaires initiale. Les actions ordinaires et les droits seront négociés séparément sous 'QSEA' et 'QSEAR' respectivement.
SPAC Advisory Partners, une division de Kingswood Capital Partners, agit en tant que gestionnaire principal unique. Les souscripteurs ont une option de 45 jours pour acheter jusqu'à 1 080 000 unités supplémentaires pour des surallocations. L'offre devrait se clôturer le 19 mars 2025, sous réserve des conditions habituelles.
Quartzsea Acquisition (NASDAQ: QSEA) hat den Preis für ihr erhöhtes öffentliches Angebot (IPO) auf 72 Millionen US-Dollar bekannt gegeben. Das Unternehmen bietet 7.200.000 Einheiten zu einem Preis von 10,00 US-Dollar pro Einheit an, wobei der Handel voraussichtlich am 18. März 2025 unter dem Symbol 'QSEAU' am Nasdaq Global Market beginnt.
Jede Einheit besteht aus einer Stammaktie und einem Recht, wobei jedes ganze Recht den Inhabern erlaubt, ein Fünftel einer Stammaktie nach Abschluss einer anfänglichen Unternehmenszusammenlegung zu erhalten. Die Stammaktien und Rechte werden separat unter 'QSEA' und 'QSEAR' gehandelt.
SPAC Advisory Partners, eine Abteilung von Kingswood Capital Partners, fungiert als alleiniger Book-Running-Manager. Die Underwriter haben eine 45-tägige Option, bis zu 1.080.000 zusätzliche Einheiten für Überzeichnungen zu kaufen. Das Angebot soll am 19. März 2025, vorbehaltlich der üblichen Bedingungen, abgeschlossen werden.
- Successful pricing of upsized $72M IPO
- Trading on major exchange (Nasdaq Global Market)
- 45-day over-allotment option for additional 1,080,000 units
- No specific business combination target identified yet
- Potential shareholder dilution from rights conversion
Insights
Quartzsea Acquisition has successfully priced its upsized IPO at $72 million, offering 7.2 million units at $10.00 each on the Nasdaq Global Market. As a Special Purpose Acquisition Company (SPAC), Quartzsea is essentially a publicly-traded cash shell designed to acquire an existing private business and take it public through a merger.
The SPAC's structure follows standard industry practice with units comprising one ordinary share plus one right, where five rights convert to one additional share post-acquisition. The underwriters have received a typical 45-day overallotment option for an additional 1.08 million units, potentially increasing total proceeds by $10.8 million.
Quartzsea joins a moderately active SPAC market following the significant cooling period in 2022-2023. SPAC Advisory Partners, a division of Kingswood Capital Partners, is managing the offering as sole book-runner, responsible for finding suitable investors. The offering is expected to close March 19th.
For context, SPACs typically have 18-24 months to identify and complete a business combination before potentially facing liquidation and returning capital to investors. Market sentiment toward SPACs remains cautious compared to the 2020-2021 boom period. The true investment potential for Quartzsea will be determined by management's ability to identify an attractive acquisition target and successfully complete a business combination.
NEW YORK, March 17, 2025 (GLOBE NEWSWIRE) -- Quartzsea Acquisition Corporation (NASDAQ: QSEA, the “Company”), a Cayman Islands exempted company, announced today that it priced its initial public offering of 7,200,000 units at
Once the securities comprising the units begin separate trading, the ordinary shares and rights are expected to be listed on NASDAQ under the symbols “QSEA” and “QSEAR”, respectively.
SPAC Advisory Partners, a division of Kingswood Capital Partners, LLC is acting as sole book-running manager in the offering. The underwriters have been granted a 45-day option to purchase up to an additional 1,080,000 units offered by the Company to cover over-allotments, if any. The offering is expected to close on March 19, 2025, subject to customary closing conditions.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 14, 2025. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, by contacting Kingswood Capital Partners, LLC, 126 East 56th Street, Suite 22S, New York, NY 10022, or by calling 212-487-1080 or emailing Syndicate@kingswoodUS.com. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Quartzsea Acquisition Corporation
Quartzsea Acquisition Corporation is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact
Qi Gong
Chief Executive Officer
Email: qgong@quartzsea.com
Tel: (212) 612-1400
FAQ
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