Every 10-Q that Quartzsea Acquisition Corporation (QSEA) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow QSEA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full QSEA filings page.
Quartzsea Acquisition Corporation reported net income of $573,672 for the three months and $1,102,757 for the six months ended May 31, 2026, driven by $1,530,207 of interest income on investments held in its Trust Account, partially offset by $427,450 of general and administrative expenses.
As of May 31, 2026, total assets were $86,845,340, including $86,732,878 held in the Trust Account and only $5,156 of cash outside the trust, with a working capital deficit of $1,035,078. There were 8,280,000 ordinary shares subject to possible redemption and 3,129,900 non‑redeemable ordinary shares outstanding.
Quartzsea terminated its earlier merger with Broadway Tech and on May 13, 2026 signed a new merger agreement with Eight Directions Technology Limited, valuing Eight Directions at $515,000,000, to be paid in 51,500,000 PubCo ordinary shares at $10.00 per share. On June 23, 2026, shareholders approved extending the business‑combination deadline from June 19, 2026 to October 19, 2026, with up to four additional one‑month extensions; 1,275,382 shares were redeemed for about $13.4 million, leaving 10,134,518 ordinary shares outstanding and approximately $73.6 million in the Trust Account. Management concludes that the limited cash outside the trust and deadline to complete a business combination raise substantial doubt about Quartzsea’s ability to continue as a going concern.
Quartzsea Acquisition Corporation, a Cayman Islands SPAC, reported net income of $529,085 for the quarter ended February 28, 2026, driven mainly by $759,908 of interest earned on investments in its Trust Account, partially offset by $230,861 of general and administrative expenses.
As of February 28, 2026, the Trust Account held $85,962,640, while cash outside the trust was only $6,133, resulting in a working capital deficit of $838,513. Management concluded that these conditions, combined with the June 19, 2026 deadline to complete a business combination, raise substantial doubt about the company’s ability to continue as a going concern.
On March 17, 2026, Quartzsea terminated its previously signed Merger Agreement with Broadway Technology Inc. due to prolonged China Securities Regulatory Commission review and related PRC regulatory uncertainty, with no termination fees payable by either party. The company continues to seek an alternative business combination but may be required to liquidate if no deal is completed within the required timeframe.
Quartzsea Acquisition Corporation (QSEA) filed its Q3 2025 report, showing SPAC-stage results and progress toward a merger. For the quarter ended August 31, 2025, net income was $318,847, driven by $879,546 of interest on funds in the trust, offset by $564,800 of general and administrative expenses.
The company completed an IPO of 8,280,000 units at $10.00, with $82,800,000 placed in a trust account. Investments held in the Trust Account totaled $84,372,491 as of August 31, 2025. Cash outside the trust was $106,772, and the working capital deficit was $77,773. A deferred underwriting fee payable is $3,312,000.
On June 6, 2025, Quartzsea signed a Merger Agreement to acquire Broadway Technology Inc., valuing the deal at $520,000,000, payable in newly issued shares at $10.00 per share. The board unanimously approved the agreement, and certain Broadway Tech shareholders signed a support agreement; select holders will be subject to a 180-day lock-up with an early release trigger at $12.50 per share. The company has until June 19, 2026 to complete a business combination. As of October 20, 2025, 11,409,900 ordinary shares were outstanding.
Management disclosed substantial doubt about the company’s ability to continue as a going concern absent a completed business combination or additional financing.