Quartzsea SPAC to acquire PET cup maker Broadway Tech for $520M in stock; combined co. to trade as 'CUPS'

Quartzsea Acquisition Corp

Aggregate consideration of $520M payable in Purchaser ordinary shares at $10.00 per share.
Merger consideration to Broadway Tech shareholders entirely in stock; lock-up of 180 days for holders >20%.
Post-closing board: 1 director from Quartzsea, 4 from Broadway Tech.
Closing conditions include shareholder approvals, SEC effectiveness, Nasdaq listing, and CSRC filing.
Break-up fee of $500,000 payable by defaulting party upon termination.

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