Quartzsea Acquisition terminates merger with Broadway Tech due to China regulatory delays

Quartzsea Acquisition Corp

Terminated June 6, 2025 BCA with Broadway Technology Inc. effective March 17, 2026.
No termination fees payable by either party.
Reason cited: prolonged China Securities Regulatory Commission (CSRC) approval process and PRC regulatory uncertainty.
Mutual general release of all claims related to the proposed business combination.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Quartzsea Acquisition Corp terminated Agreement and Plan of Merger with Broadway Technology Inc. (effective 2026-03-17).

Action: termination
Agreement: merger
Counterparty: Broadway Technology Inc.
Effective: 2026-03-17

Exact text from the filing

As described above in Item 1.01, on March 17, 2026, the Company and the Broadway entered into the Termination Agreement, pursuant to which the Merger Agreement was terminated in its entirety, effective as of March 17, 2026, subject to the terms and conditions set forth in the Termination Agreement.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Quartzsea Acquisition Corp entered into Termination, Settlement and Mutual General Release Agreement with Broadway Technology Inc. (effective 2026-03-17).

Action: entry
Agreement: settlement
Counterparty: Broadway Technology Inc.
Effective: 2026-03-17

Exact text from the filing

On March 17, 2026, Quartzsea Acquisition Corporation, a Cayman Islands exempted company (the “Company”), entered into a Termination, Settlement and Mutual General Release Agreement (the “Termination Agreement”) with Broadway Technology Inc., a Cayman Islands exempted company (the “Broadway”).

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Quartzsea Acquisition Corp filing history →

Source: SEC EDGAR

accession 0001829126-26-002461

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