Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 45

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 45
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762,500. |

<div align='center'>22</div>

| ● | Up to an aggregate amount of $1,500,000 of any amounts outstanding under any working capital loans made by our Sponsor or any of its affiliates to SPAC may be converted into private units at a price of $10.00 per private unit at the option of the lender. |

These interests may influence our directors in making their recommendations that you vote in favor of the approval of the Business Combination. For more information, see “ The Business Combination Proposal — Interests of Certain Persons in the Business Combination.”

| Q: | WHAT HAPPENS IF A SUBSTANTIAL NUMBER OF THE PUBLIC SHAREHOLDERS VOTE IN FAVOR OF THE BUSINESS COMBINATION PROPOSAL AND EXERCISE THEIR REDEMPTION RIGHTS? |

| A: | Public shareholders are not required to vote in respect of the Business Combination in order to exercise their redemption rights. Accordingly, the Business Combination may be consummated even though the funds available from the Trust Account and the number of public shareholders are reduced as a result of redemptions by public shareholders. |

In the event of significant redemptions, with fewer SPAC Public Shares and public shareholders, the trading market for PubCo Common Stock may be less liquid than the market for SPAC Ordinary Shares was prior to the Business Combination, and PubCo may not be able to meet the listing standards for a stock exchange.

| Q: | WHAT DO I NEED TO DO NOW? |

| A: | After carefully reading and considering the information contained in this proxy statement/prospectus, please submit your proxies as soon as possible so that your shares will be represented at the Extraordinary General Meeting. Please follow the instructions set forth on the proxy card or on the voting instruction form provided by your broker, bank or other nominee if your shares are held in the name of your broker, bank or other nominee. |

| Q: | HOW DO I VOTE? |

If you are a shareholder of record of SPAC as of the Record Date, you may submit your proxy before the Extraordinary General Meeting in any of the following ways, if available:

| ● | use the toll-free number shown on your proxy card; |

| ● | visit the website shown on your proxy card to vote via the internet; or |

| ● | complete, sign, date and return the enclosed proxy card in the enclosed postage-paid envelope. |

If you are a shareholder of record of SPAC as of the Record Date, you may