Company: PELI
Filing Date: 2025-09-10
Form Type: 8-K
Source: 0001829126-25-007274
Chunk: 0

Company: Pelican Acquisition Corp
Filing Date: 2025-09-10
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01      Entry into a Material Definitive Agreement.  

On
September 9, 2025, Pelican Acquisition Corporation, a Cayman Islands exempted company with limited liability (“ PELI SPAC Merger Agreement ), Holdco Pelican Merger Sub Greenland Greenland Merger Sub March GL Company Companies March GL Merger Sub Merger
Subs Merger Sub Parties

Domestication

Prior
to the Closing, PELI will effect a domestication under the Cayman Islands Companies Act and the Texas Business Organizations Code (the
“ TBOC Domestication

The
Mergers

Following
the Domestication and on the terms and subject to the conditions of the Merger Agreement, Pelican Merger Sub will merge with and into
PELI, with PELI surviving as a wholly-owned subsidiary of Holdco (the “ Pelican Merger Greenland
Merger March GL Merger Mergers Business Combination Nasdaq

Immediately
prior to the Pelican Merger, every issued and outstanding units issued by SPAC in a private placement at the time of the consummation
of the SPAC’s Initial Public Offering (the “ IPO SPAC Ordinary Share SPAC Right

Each
SPAC Ordinary Share issued and outstanding immediately prior to the Pelican Merger with respect to which a public shareholder has validly
exercised its redemption rights, will not be converted into and become a share of Holdco common stock, and shall at the Pelican Merger
be converted into the right to receive from the SPAC, in cash, an amount per share calculated in accordance with such shareholder’s
redemption rights, following which such redemption all redeemed shares will no longer be outstanding and will automatically be cancelled,
retired, and will cease to exist.

Following
the Greenland Merger, Holdco will assume each Greenland Stock Warrant remaining outstanding and unexpired (each, a “ Greenland
Warrant

Following
the time of the Mergers (the “ Closing

Consideration

As
consideration for the Mergers, the holders of March GL Common Stock immediately prior to the March GL Merger will be entitled to receive
from Holdco, in the aggregate, 20,000,000 shares of Holdco Common Stock (the “ March GL Merger Consideration Greenland Merger Consideration Merger Consideration

Registration
Statement and Shareholder Approval

Holdco
will prepare and file with the Securities and Exchange Commission (the “ SEC Extra