QSEA
Quartzsea Acquisition Corporati10.22
+0.00+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
116.61MP/E (TTM)
-Basic EPS (TTM)
-Dividend Yield
0%Recent Filings
10-Q
Q3 FY2025 results
Quartzsea Acquisition posted a $318,847 net gain for Q3 FY2025 ended August 31, 2025, flipping from a $31,255 loss in the prior quarter, thanks to $879,546 in trust interest income outpacing $564,800 in administrative costs. For the nine months, net income hit $260,445 on $1,586,496 total interest, against $1,326,051 expenses—yet YTD lags the quarter's profit due to pre-IPO setup drags. Cash sits at $106,772 outside the $84.4M trust, with a $77,773 working capital deficit signaling tight liquidity ahead of the June 2026 merger deadline. On June 6, 2025, it inked a merger with Broadway Technology Inc for $520M in stock, eyeing its PET packaging ops in China. No non-GAAP metrics disclosed in the 10-Q. Merger delays loom as a key risk.
10-Q
Q2 FY2025 results
Quartzsea Acquisition Corporation posted a modest net loss of $27,147 for the three months ended May 31, 2025, driven by $727,747 in general and administrative expenses offset by $700,600 in interest income from its Trust Account, while the six-month net loss reached $58,402 amid $761,251 in expenses and $702,849 in interest. The IPO closed March 19, 2025, raising $82.8M in gross proceeds, with $83.5M now held in the Trust Account at $10.08 per redeemable share; cash outside the Trust sits at $49,122, supporting working capital of $474,816. No free cash flow or debt is reported, as operations remain pre-combination. On June 6, 2025, the company signed a merger agreement to acquire Broadway Technology Inc., a PET packaging manufacturer, for $520M in stock, creating dual-class shares with enhanced voting for insiders. Yet merger risks loom large, from shareholder redemptions to regulatory hurdles in cross-border deals.
8-K
Quartzsea merges with PET maker
Quartzsea Acquisition Corporation announced a merger agreement on June 6, 2025, to acquire Broadway Technology Inc., a PET cups and lids manufacturer, for $520 million in shares valued at $10 each. The deal merges Quartzsea into its subsidiary Cuisine Universal, which will then absorb Broadway Tech, positioning the combined entity for Nasdaq listing under 'CUPS' with a board dominated by Broadway Tech directors. Yet regulatory hurdles loom large. Closing hinges on shareholder votes and PRC approvals.
8-K
Units separation begins May 12
Quartzsea Acquisition Corp announced on May 8, 2025, that holders of its 8,280,000 units from the initial public offering can elect to separate and trade ordinary shares and rights starting May 12, 2025. Shares will trade under QSEA and rights under QSEAR on Nasdaq, while unseparated units continue as QSEAU. This step boosts liquidity for investors in the blank check company hunting for a merger target. Forward-looking statements carry risks of differing outcomes.
10-Q
Q1 FY2025 results
Quartzsea Acquisition Corporation, a blank check company, reported a net loss of $31,255 for the three months ended February 28, 2025, driven by formation and operating costs of $33,504 offset by $2,249 in interest income, with no revenue as it awaits a business combination. Cash dropped to $208,063 from $311,000, reflecting $8,051 used in operations and $94,886 in deferred offering costs, while a $500,000 related-party promissory note remained outstanding before its repayment post-IPO. The diluted EPS of $(0.012) aligns with the net loss divided by 2,520,000 weighted-average shares. On March 19, 2025, it closed its IPO of 8,280,000 units at $10.00, raising $82.8M into trust, alongside 231,900 private units for $2.319M. No debt lingers beyond potential working capital loans up to $1.5M. Yet the hunt for a target drags on.
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