Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 53

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 53
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 of one other. The Adjournment Proposal is not conditioned upon the approval of any other proposal set forth in this proxy statement/prospectus, and the Governing Documents Advisory Proposals are being submitted for approval on a non-binding advisory basis. The Business Combination will be consummated only if the Condition Precedent Proposals are approved at the Extraordinary General Meeting. As discussed in this proxy statement/prospectus, SPAC is asking its shareholders to approve by ordinary resolution the Business Combination Agreement, pursuant to which, among other things, on the Closing Date:

| (i) | SPAC will effect a conversion under the Cayman Islands Companies Act and the Texas Business Organizations Code pursuant to which SPAC will discontinue as a Cayman Islands exempted company and domesticate as a Texas corporation. Upon the Conversion, each issued and outstanding SPAC security will remain outstanding and automatically represent a corresponding security of SPAC as a Texas corporation, without any action required by the holders. and |

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| (ii) | Following the Conversion, SPAC Merger Sub will merge with and into SPAC, with SPAC surviving as a wholly-owned subsidiary of PubCo. Immediately thereafter, Greenland Merger Sub will merge with and into Greenland, with Greenland surviving as a wholly-owned subsidiary of PubCo. Immediately thereafter, March GL Merger Sub will merge with and into March GL, with March GL surviving as a wholly-owned subsidiary of PubCo. Immediately after the March GL Merger, PubCo will contribute all of the issued and outstanding capital stock of March GL to Greenland, resulting in March GL becoming a wholly-owned subsidiary of Greenland. |

For further details, see “ The Business Combination Proposal.” Conditions to the Closing of the Business Combination Conditions to Each Party’s Obligations The respective obligations of the parties to the Business Combination Agreement to consummate and effect the transactions contemplated by the Business Combination Agreement are subject to the satisfaction, at or prior to the closing of the Business Combination, of each of the following conditions:

| ● | Required SPAC Shareholder Approval has been obtained at the SPAC’s Extraordinary General Meeting in accordance with applicable Law and organizational documents; |

| ● | Required Company Shareholder Approval has been obtained and remains in full force; |

| ● | No Law or governmental order exists that makes the transactions illegal or prevents their consummation; |

| ● | PubCo will have net tangible assets of at least $5,000,001 after the Redemption and PIPE Investment; |

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